KUALA LUMPUR (July 15): Malaysian Resources Corp Bhd (MRCB) has been appointed by the Selangor government to redevelop the Shah Alam Stadium, according to a news report. 

According to news portal Selangorkini, the construction group received a letter of intent (LOI) from the state government on Friday (July 15).

Quoting Selangor Menteri Besar Datuk Seri Amirudin Shari, it was reported that MRCB was selected after taking into account its financial position, as well as its experience in repairing the Bukit Jalil National Stadium in 2017.

He added that there were 15 other companies that participated in the rigorous selection process for the public-private partnership development project.

MRCB will have more in-depth discussions with the Selangor government regarding the development plan, Amirudin said.

Meanwhile, Kosmo, which also quoted Amirudin, reported that the stadium is expected to be completed in 2026, with a development cost not exceeding RM787 million, to be borne by MRCB. The developer will also be granted a land swap for the development.
 
“Personally, I prefer to redevelop it as the cost will not be too high. The cost to repair [the stadium] amounts to RM787 million, compared with its original development cost of RM400 million,” Amirudin was quoted as saying.

Earlier this month, it was reported that there is a proposal to tear down the Shah Alam Stadium, as the stadium was plagued with issues, including problems with the roofs, piping system and the field.

The proposed development of the stadium was said to take at least two years, and was expected to be completed in line with the construction of the Light Rail Transit 3 (LRT3) line nearby.

MRCB shares closed down half a sen or 1.5% at 33.5 sen on Friday (July 15), giving it a market capitalisation of RM1.47 billion.