TRC Synergy secures LRT3 contract

PETALING JAYA: Construction and property firm TRC Synergy Bhd has bagged a RM760.55mil contract from Prasarana Malaysia Bhd for jobs related to the Light Rail Transit Line 3 (LRT3).

TRC said the award was to build the second phase of the Johan Setia Depot in Klang and “associated works” for the construction and completion of LRT3 from Bandar Utama to Johan Setia.

According to TRC’s filings with the stock exchange yesterday, the contract, also known as Package TD2, was secured via its unit Trans Resources Corp Sdn Bhd.

“The project will not have any effect on TRC’s issued and paid-up share capital, substantial shareholders’ shareholdings, net assets per share and gearing,” TRC said.

In a May report, TRC had said that it would aggressively tender for Mass Rapid Transit Corp (MRT) and LRT packages this year in line with plans to boost its property segment constribution.

The report said that TRC, which is mainly involved in the construction business, aimed to raise the contribution ratio for construction and property segments to 80:20 from the current 90:10.

On the new contract, the company opined that the project would contribute positively to its earnings and earnings per share.

Apart from being involved in associated works between Pasar Seni LRT station and Kuala Lumpur KTM station, the company is also developing and upgrading the Pan Borneo Highway in Sarawak and extension of the Sungai Buloh MRT Depot.

TRC’s property segment is expected to work with Prasarana to build transit-oriented development towns, lifting contribution from the division, according to the report.

TRC had previously ventured into the Australian property market, with RM100mil ploughed into two projects namely Springridge Development in Wallan and East Edge Botanica Development in Melbourne.