Mudajaya bags RM1.16 bil LRT3 job from Prasarana

KUALA LUMPUR (Oct 9): Mudajaya Group Bhd, through its wholly-owned unit Mudajaya Corp Bhd, clinched a contract worth RM1.16 billion for works related to the Light Rail Transit Line 3 (LRT3).

In a filing with Bursa Malaysia, Mudajaya said Mudajaya Corp received the Letter of Acceptance (LoA) from Prasarana Malaysia Bhd for Package GS01, which entails the construction of a guideway, stations, park and ride, ancillary buildings and other associated works for the route linking Bandar Utama to Johan Setia.

The contract brings Mudajaya’s outstanding orderbook to RM3.5 billion, said the group. 

The project is expected to be completed by February 2021, with a construction period of 39 months from the date of the LoA, and will contribute positively to the group’s earnings for the financial year ending December 31, 2017 (FY17) onwards.

Shares in Mudajaya settled 9.3% or 11 sen higher at RM1.29, valuing the group at RM739.25 million. — theedgemarkets.com

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