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Malaysia light rail contracts awarded


A SLEW of contracts for Malaysia’s Light Rail Transit Line 3 (LRT3) was awarded to three listed companies totalling 4.15 billion ringgit (Bt32.7 billion) in value.

The awards will beef up the order books of these companies and boost the construction sector as a whole.
Earlier this year Prasarana Malaysia, the project owner of LRT3, awarded close to 1.8 billion ringgit worth of jobs related to LRT3.
Of Thursday’s awards, the largest package was secured by construction giant Sunway Construction Group for 2.308 billion ringgit , followed by Gabungan AQRS, a mid-cap construction player, which bagged a 1.205 billion ringgit package. WCT Holdings Bhd was the third recipient, which was awarded a contract of 640 million ringgit.
SunCon’s award was for works for Package GS07-08 from Bandar Utama to Johan Setia in Klang.
“The project is for a period of 36 months and is expected to be completed by the fourth quarter of 2020. The project is expected to contribute positively to the earnings of SunCon from the financial year ending December 31, 2017 (FY17) onwards,” the company said in a filing with Bursa Malaysia.
SunCon added that the contract was its fourth elevated rail project and its largest single project in 36 years.
Group managing director Chung Soo Kiong said: “The award brings our order book replenishment to 3.75 billion ringgit for the year. 
“Our total outstanding order book now stands at 6.5 billion ringgit, the highest ever since our inception, with a high visibility for future earnings.”
Gabungan AQRS, meanwhile, said that its unit Gabungan Strategik Sdn Bhd was awarded Package GS04 involving the construction and completion of guideways, stations, park and ride, ancillary buildings and other associated works.
“The project is for a period of 38 months and is expected to contribute positively to group earnings for FY17 onwards.
 

Published : October 06, 2017

By : THE STAR ASIA NEWS NETWORK PETALING JAYA