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Mudajaya bags RM32m contract to supply street lighting for SUKE

KUALA LUMPUR (Jan 22): Mudajaya Group Bhd has bagged a RM31.99 million contract to supply and maintain street lighting and traffic light system for the Sungai BesiUlu Kelang Elevated Expressway (SUKE) project.

The contract — which entails the supply, delivery, installation, testing, commissioning and maintenance of street lighting, high mast and traffic light system — was awarded to its wholly-owned subsidiary Mudajaya Corp Bhd by Turnpike Synergy Sdn Bhd.

With this contract award, Mudajaya said its outstanding order book now stands at RM1.4 billion.

The project is targeted to be completed by July 2020, with a construction period of six months from the date of site possession. 

"The project is expected to contribute positively to the group’s earnings for the financial year ending 31 December 2020," Mudajaya said in a filing with Bursa Malaysia.

Mudajaya had returned to the black with a net profit of RM812,000 for the third quarter ended Sept 30, 2019, after logging 13 consecutive quarters of losses.

This was despite revenue contracting 25.6% year-on-year to RM110.18 million, from RM148.18 million previously, due to completion of its 49mw solar photovoltaic energy plant in Sungai Siput in November 2018, and the slow progress of the LRT3 project.

Shares of Mudajaya closed down 1 sen or 1.87% at 52.5 sen yesterday, for a market capitalisation of RM309.68 million.

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