TRC Synergy-CCCC-UFUK Semarak JV lands RM2.69bil Penang LRT works contract
KUALA LUMPUR: TRC Synergy Bhd’s wholly owned subsidiary TRC Construction Sdn Bhd (TRC) and its joint venture (JV) comprising China Communications Construction Company Ltd (CCCC) and Ufuk Semarak Sdn Bhd (UFUK) (CCCC-TRC-UFUK JV) secures RM2.69 billion Penang Light Rail Transit (LRT) project works contract worth RM2.69 billion.
On a recent announcement by Malaysia Rapid Transit Corporation Sdn Bhd (MRT Corp), the naval crossing portion of the Penang Light Rail Transit (LRT) system has been awarded a contract valued at RM2.69 billion to a consortium comprising TRC Synergy Bhd's wholly owned subsidiary TRC Construction, China Communications Construction Company Ltd (CCCC), and Ufuk Semarak Sdn Bhd (UFUK), collectively known as CCCC-TRC-UFUK JV.
This five-year contract covers the design, construction, and completion of various elements of the project, including the sea-crossing viaduct, navigation channel spans, an elevated station, as well as associated works between Macallum and Penang Sentral. The participation of TRC, as the JV's 30 percent stakeholder, is anticipated to positively impact the company's revenue and earnings throughout the contract period.
Notably, the contract does not impact the issued share capital or the shareholdings of the company's significant shareholders.
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