Business : MRT Corp: RM16.8 Bln LRT Mutiara Line Budget Reflects Market Conditions, Not Cost OverrunÂ

AI Summary

Malaysia Rapid Transit Corporation (MRT Corp) clarified that the increased RM16.8 billion budget for the LRT Mutiara Line isn't uncontrolled cost escalation. The revised figure reflects market changes over the past eight years since the initial estimate. MRT Corp emphasized that the new ceiling accounts for inflation, material price hikes, and other economic factors affecting the project.