TRC Synergy bags RM498.7m construction contract from Putrajaya Holdings


TRC Synergy Bhd’s wholly owned subsidiary, Trans Resources Corp Sdn Bhd, has secured a construction award worth RM498.7 million from Putrajaya Holdings Sdn Bhd.

In an exchange filing to Bursa Malaysia yesterday, TRC Synergy said the project comprises the proposed construction and completion of residential towers; serviced apartments with retail space and a show gallery; a facilities block for serviced apartments; an event hall; basement parking; common facilities; high street; as well as upgrading works for the promenade and other ancillary works in Precinct 8, Putrajaya.

The project has to be completed within 57 months.

TRC Synergy MD Tan Sri Sufri Mohd Zin (picture) described the project as the company’s single largest contract win in 2018.

“Having clinched new contracts in 2018 with a collective RM716 million, we now have a strong orderbook of RM3 billion, as well as a clear revenue and earnings visibility stretching into 2021.

“We are very confident that TRC Synergy’s contract winning momentum will continue, riding on our existing tenders book, as well as new bid-
dings to be participated by the group,” he said in a statement.

TRC Synergy’s share closed at 57 sen yesterday, two sen or 3.6% higher than its previous close, with a market capitalisation of RM276.29 million.