KUALA LUMPUR (Oct 17): Mestron Holdings Bhd has accepted a Project Wide Supply Agreement with MMC Gamuda KVMRT (T) Sdn Bhd to supply and commission LED Tunnel Lighting for Mass Rapid Transit Laluan 2: Sungai Buloh–Serdang–Putrajaya.
Mestron unit, Max Lighting Sdn Bhd, will design, supply, deliver, and supervise the installation and testing and commissioning of LED Tunnel Lighting to underground tunnel forming part of the Main Contract Works in accordance with the terms and conditions set out in the agreement, Mestron said in a filing with Bursa Malaysia today.
It said the contract value for the job will be payable upon completion of each work stages as agreed upon in accordance to the payment schedule stated in the agreement.
The agreement is not expected to have any material effect on the group’s net assets, gearing and earnings for the financial year ending Dec 31, 2019, but is expected to contribute positively to group earnings for the following financial year.
MMC Gamuda KVMRT is a joint venture between MMC Corp Bhd and Gamuda Bhd. It was set up to undertake the design and construction work for the underground package of the Klang Valley Mass Rapid Transit (KVMRT) project and is the main contractor for the Mass Rapid Transit Laluan 2 Sungai Buloh— Serdang—Putrajaya project.
Shares of Mestron closed half a sen or 4% lower at 12 sen today, valuing the company at RM94.8 million.
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