KUALA LUMPUR (Dec 5): TRC Synergy Bhd has bagged a RM498.7 million contract — its largest year to date — from Putrajaya Holdings Sdn Bhd to develop an integrated development at Plot 8MD3 in Precinct 8, Putrajaya.
With the addition of this contract, TRC Synergy said its order book will increase to RM3 billion.
In a filing with Bursa Malaysia yesterday, TRC Synergy said its wholly-owned subsidiary Trans Resources Corp Sdn Bhd had accepted the award from Putrajaya Holdings, the master developer of Putrajaya, for the proposed project, which will be completed within 57 months.
The development comprises residential towers, a podium block, retail space, serviced apartments, common facilities, high street, a facilities block for serviced apartments, facility floor, show gallery, event hall, promenade, basement as well as elevated parking and other ancillary works.
TRC Synergy said the project will contribute positively to the group’s earnings and earnings per share in the future.
In a separate statement, TRC Synergy managing director Tan Sri Sufri Mohd Zin said moving forward, the group will remain focused in executing the best strategies to meet the ever-evolving needs of its existing and prospective clients, and the challenges in the industry.
“Having clinched new contracts in 2018 with a collective RM716 million, we now have a strong order book of RM3 billion, as well as a clear revenue and earnings visibility stretching into 2021.
We are very confident that TRC Synergy’s contract winning momentum will continue to ride on our existing tender book, as well as new bidding to be participated by the group going forward,” Sufri added.
This article first appeared in The Edge Financial Daily, on Dec 5, 2018.