Metronic bags MRT contract

PETALING JAYA: Metronic Global Bhd’s wholly owned subsidiary Metronic Engineering Sdn Bhd (MESB) bagged a RM50 million contract from Mass Rapid Transit Corp (MRT Corp) to serve as the primary contractor for the Building Management System For Underground Works of the Sungai Buloh – SerdangPutrajaya MRT line.

The contract alone is more than 125% of the company’s latest annual published consolidated revenue.

The group made a net profit of RM257,000 against RM31.2 million revenue for the financial year ended Dec 31, 2017.

The group’s board of directors said in a stock exchange filing that the job scope entails designing, supplying, installing, testing and commissioning of the Building Management System. The contract started in March 2018 and will be completed by July 2021.

The group will fund the contract via internally generated funds and or existing working capital lines.

MESB is in the business of providing system integration specialising in the field of intelligent building management system and integrated security management system, project management of mechanical and electrical services and supply of engineering systems.

Metronic’s shares closed up one sen to six sen yesterday, with some 3.1 million shares changing hands.