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RTS and the River of Life project in the 3 financial reports
Ekovest project detailed report: RTS and River of Life.
【RTS Project】
Total contract amount - 3.482 billion Malaysian Ringgit
**Payment Received**
- Q1 FY2024 (July 1, 2023 - September 30, 2023): 165,259,000 Malaysian Ringgit
- Q2 FY2024 (October 1, 2023 - December 31, 2023): 184,929,000 Malaysian Ringgit
- Q3 FY2024 (January 1, 2024 - March 31, 2024): 138,409,000 Malaysian Ringgit
**Payment Pending**
- Total contract amount - Total amount received = 3.482 billion Malaysian Ringgit - 488,597,000 Malaysian Ringgit = 2.993403 billion Malaysian Ringgit
【River of Life Project】
Total contract amount** - 0.22 billion Malaysian Ringgit
**Amount received**
- Q1 FY2024 (July 1, 2023 - September 30, 2023): 76,611,000 Malaysian Ringgit
- Q2 FY2024 (October 1, 2023 - December 31, 2023): 76,933,000 Malaysian Ringgit
- Q3 FY2024 (January 1, 2024 - March 31, 2024): 67,561,000 Malaysian Ringgit
**Amount not received**
- The total contract amount - the total amount received = 0.22 billion MYR - 221,105,000 MYR = 0 MYR (all received)
【Total Interest Expense】
**Detailed time breakdown of total interest expense**
- Q1 FY2024 (July 1, 2023 - September 30, 2023): 59,125,000 MYR
- Q2 FY2024 (October 1, 2023 - December 31, 2023): 96,345,000 MYR
- Q3 FY2024 (January 1, 2024 - March 31, 2024): 112,090,000 MYR
Interest expenses mainly come from the following sources:
1. **Borrowings from banks**
2. **Medium-term notes**
3. **Repurchase credit financing**
### Summary ###
RTS project and River of Life project are Ekovest's two main engineering projects.
The total contract amount of the RTS project is 3.482 billion Malaysian Ringgit, with received payments of 488,597,000 Malaysian Ringgit, and outstanding payments of 2.993403 billion Malaysian Ringgit.
The total contract amount of the River of Life project is 0.22 billion Malaysian Ringgit, with received payments of 221,105,000 Malaysian Ringgit, all received.
The company's continued investments in these two projects resulted in total interest expenses of 220,681,000 Malaysian Ringgit over 3 quarters, mainly from bank loans, medium-term notes, and repurchase credit financing.
According to the latest audit report, the cost of the RTS project has increased to 5.245 billion Malaysian Ringgit, due to expanding maintenance scope and additional contracts [Ekovest-MRCB JV gets River of Life project | EdgeProp.my](https://www.edgeprop.my/content/ekovest-mrcb-jv-gets-river-life-projectThis is consistent with the information in the financial report, indicating the progress of the project and related expenditures.
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