SunCon, Gabungan AQRS and WCT win LRT3 deals

By SHAHEERA AZNAM SHAH & MARK RAO / Pic By MUHD AMIN NAHARUL

Prasarana Malaysia Bhd awarded a total of RM3.96 billion worth of construction works for the Light Rail Transit Line 3 (LRT3) project yesterday to Sunway Construction Group Bhd (SunCon), Gabungan AQRS Bhd and WCT Holdings Bhd.

SunCon in a statement to Bursa Malaysia said it has secured the RM2.18 billion contract via its subsidiary Sunway Construction Sdn Bhd. The award increased the group’s total orderbook to date to a record RM6.5 billion.

SunCon MD Chung Soo Kiong said the company has exceeded its target orderbook replenishment of RM2 billion.

“The award brings our orderbook replenishment to RM3.75 billion for the year. Our total outstanding orderbook now stands at RM6.5 bil

lion, the highest ever since our inception, with a high visibility for future earnings,” Chung said in a statement yesterday.

The contract involves the construction and completion of guideway, stations, iconic bridge, park and rides, ancillary buildings and other associated works from the Bandar Utama to Johan Setia stretch.

To be developed over a three-year period and scheduled for completion by the fourth quarter of 2020, the project is expected to contribute positively to the group earnings for the current and future financial years.

“On other work prospects, we are now focusing on several projects under our parent company’s development,” Chung concluded.

Gabungan Strategik Sdn Bhd — a wholly owned subsidiary of Gabungan AQRS — secured a RM1.14 billion contract under the same LRT3 package awarded to SunCon, bringing the engineering and construction company’s total orderbook to RM2.6 billion.

It said the works — also stretching from Bandar Utama to Johan Setia — will be undertaken over a period of 38 months and will contribute positively to the current and future financial years.

In a separate filing on the same day, WCT Holdings — the investment holding company involved in engineering and construction — said its wholly owned unit WCT Bhd accepted a RM640 million con- tract for LRT3 construction works.

The award represents the third contract secured by the company for the LRT3 project following the RM840 million and RM185.9 million awards secured in August and April respectively this year.

Expected to be completed within the next 35 months, the works involve the construction of a 5.7km guideway covering stations Merchant Square-Suria Damansara and Suria Damansara-Temasya Glenmarie.

SunCon’s share price closed four sen higher at RM2.30 with 2.15 million shares exchanging hands, while Gabungan AQRS and WCT Holdings also closed one sen higher at RM1.75 and RM1.71 respectively.