Azanis Shahila Aman
KUALA LUMPUR: HSS Engineers Bhd's unit HSS Integrated Sdn Bhd (HSSI), has clinched a contract from Mass Rapid Transit Corp Sdn Bhd to provide peer review consultancy services.
In its filing with Bursa Malaysia today, HSS Engineers said the services include tender documentation for the civil main contractor (CMC) and line-wide systems contractor (STC) for the MRT3 circle line project.
The role of HSSI is to undertake an independent review and provide an endorsement that the said tender documentations comply with the requirements prescribed by the employer.
Under the exclusive teaming arrangement between HSSI and HSS Engineering Sdn Bhd (HSSE), a wholly-owned subsidiary of HSS Engineers, HSSI and HSSE will be collaborating exclusively to execute and complete the services, the filing said.
The engineering and project management consultant said the value of the services was estimated at RM11.29 million and commenced on April 15, 2022, for 11 months.
The services are expected to contribute positively to the revenue, earnings and net assets of HSS Engineers for the financial years ending December 31, 2022.
"The risk factors affecting the services include but are not limited to execution risks, such as dependency on the progress and completion of the tender documentation given HSSI's role is to review and endorse the same as described above.
"Nonetheless, HSS Engineers has, throughout the years, established its track record and expertise in undertaking such Services.
"As such, the company believes that it can mitigate the risk mentioned above factors," it added.