TRC Synergy bags RM142 mil subcontract to 'transform' state legislative building

• Details of  the project, including the identity of the building, were not disclosed in TRC's filing to Bursa Malaysia.

KUALA LUMPUR (May 24): Construction outfit TRC Synergy Bhd (KL:TRC) said it has secured a RM142.34 million subcontract for the "proposed transformation" of a state legislative building.

The group said its wholly owned subsidiary Trans Resources Corp Sdn Bhd (TRCSB) was awarded the subcontract to undertake architectural, structural and civil works at the building by Performing Arts Centre Consortium Sdn Bhd.

Details of  the project, including the identity of the building, were not disclosed in TRC's filing to Bursa Malaysia on Friday.

“Barring unforeseen circumstances, the board is of the opinion that the project will contribute positively to the earnings and earnings per share of the TRC group in the future,” said TRC.

The group said the subcontract will have no effect on its issued share capital, shareholders' shareholdings, net assets and gearing. Meanwhile, none of its directors, shareholders, or persons connected with the company have any interest in the project.

This marks the second project that TRC has secured year-to-date. In February, TRCSB won a RM358 million contract from Khazanah Nasional Bhd to carry out refurbishment and infrastructure works at Subang Airport.

Shares in TRC finished down half a sen or 0.99% at 50 sen on Friday, giving the group a market capitalisation of RM237.89 million. The stock has risen 35.14% since the beginning of this year.

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