KUALA LUMPUR: TRC Synergy Bhd’s 30%-owned subsidiary has secured a five-year contract worth RM2.69 billion for the Penang Light Rail Transit (LRT) Mutiara Line project.
In a filing with Bursa Malaysia today, TRC Synergy said CCCC-TRC-UFUK Joint Venture accepted the contract award from MRT Mutiara Sdn Bhd yesterday.
The contract, valued at RM2.69 billion, covers the design, construction and completion of a sea-crossing viaduct, including spans for navigation channels, an elevated station and associated works from Macallum to Penang Sentral.
The joint venture comprises China Communications Construction Company Ltd (CCCC), TRC Construction Sdn Bhd, a wholly-owned subsidiary of TRC Synergy, and Ufuk Semarak Sdn Bhd.
TRC Synergy has a 30% participation interest in the joint venture, with the remaining interests held by its partners.
The group said the contract is expected to contribute positively to its revenue and earnings throughout the five-year implementation period.
It added that the award would not affect its issued share capital or the shareholdings of its substantial shareholders.
TRC Synergy said the board was not aware of any significant risks arising from the contract, apart from normal operational risks.