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TRC bags Putrajaya property contract worth RM53.94m

KUALA LUMPUR (Mar 26): TRC Synergy Bhd has secured a RM53.94 million contract to construct houses in Precint 8, Putrajaya.

In a filing with Bursa Malaysia today, TRC (fundamental: 1.15; valuation: 1.2) said its wholly-owned subsidiary Trans Resources Corp Sdn Bhd had yesterday (March 25) accepted the contract from Putrajaya Homes Sdn Bhd.

Today, TRC said it would be involved in the construction of 60 landed-residential properties. They comprise 50 units of three-storey semi-detached houses and 10 units of double-storey semi-detached entities.

"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," TRC said.

At 3:06pm, TRC shares rose 1.5 sen or 4% to 41 sen, for a market capitalisation of RM197 million.

This compares to its latest reported book value of 68 sen a share.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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