Mudajaya secures RM559 mil MRT2 contract

KUALA LUMPUR (Dec 20): Mudajaya Group Bhd has won a RM558.64 million contract to construct a viaduct gateway for the mass rapid transit line 2 (MRT2) project.

The group said its wholly-owned unit, Mudajaya Corp Bhd, accepted the award yesterday from Mass Rapid Transit Corp Sdn Bhd for the project covering the stretch from Universiti Putra Malaysia in Serdang to Taman Pinggiran Putra in Putrajaya.

The MRT2 line starts in Sungai Buloh and passes through several parts of Kuala Lumpur including Kepong, Jalan Tun Razak and KLCC before proceeding to Serdang, and finally Putrajaya.

In a filing with Bursa Malaysia, Mudajaya said the project’s construction period is 56 months.

The group expects the project to contribute positively to its earnings for the financial year ending Dec 31, 2017 onwards.

Mudajaya’s share price closed unchanged yesterday at 85 sen, valuing the group at RM457.6 million.

This article first appeared in The Edge Financial Daily, on Dec 20, 2016. Subscribe to The Edge Financial Daily here.