TRC unit bags RM760.6 mil LRT3-related contract from Prasarana

KUALA LUMPUR (Sept 5): TRC Synergy Bhd's wholly-owned Trans Resources Corp Sdn Bhd has bagged a RM760.6 million construction contract related to the Light Rail Transit Line 3 (LRT3) project from Prasarana Malaysia Bhd.

Trans Resources accepted the award for the contract known as "Package TD2-construction and completion of Johan Setia Depot (Phase 2) and associated works for LRT Line 3 from Bandar Utama to Johan Setia" on Aug 29.

In a filing with Bursa Malaysia today, TRC Synergy said the project would contribute positively to the group's future earnings and earnings per share.

The project would not have any effect on the group's issued and paid-up share capital, substantial shareholders' shareholdings, net assets per share and gearing.

After having considered all aspects of the offer, the board is of the opinion that the project is in the best interest of the group.

At 12.30pm, TRC Synergy dipped one sen or 1.21% to 81.5 sen with 539,700 shares done for a market capitalisation of RM391.6 million. In a year, the counter has grown 99.9%. — theedgemarkets.com

For more stories, download TheEdgeProperty.com pullout here for free.