by TMR / graphic by MZUKRI MOHAMAD

Gamuda bags metro project in Australia for RM6.6b

A CONSORTIUM comprising Gamuda Australia and Laing O’Rourke Australia Construction Pte Ltd has been awarded a tunnelling and civil works project under the Sydney Metro West-Western Tunnelling Package (WTP) worth A$2.16 billion (RM6.59 billion) by Australia’s New South Wales government. Gamuda Australia is a wholly owned unit of Gamuda Bhd. In a filing to Bursa Malaysia yesterday, Gamuda said the project scope includes design and construct 9km of twin, metro rail tunnel between Westmead and Sydney Olympic Park; excavation and civil works for new metro stations in the Parramatta central business district; and Westmead Health Precinct. Gamuda said early works of tunnelling is scheduled to start in late 2023.

LYC Healthcare unit to sell 25% stake in LYC Singapore

LYC Healthcare Bhd’s wholly owned subsidiary LYC Medicare Sdn Bhd (LYC MY) has entered into a conditional sale and purchase agreement with Kenanga Investors Bhd (KIB) for the divestment of 6.53 million ordinary shares in LYC Medicare (Singapore) Pte Ltd (LYC SG) for S$12.9 million (RM39.9 million). The proposed divestment represents 25% of the shares. In a filing to Bursa Malaysia yesterday, LYC Healthcare said LYC MY will still hold the remaining 7 % shareholding in LYC SG post the proposed 25% divestment. It said the proposed divestment to KIB establishes a new valuation for LYC SG at S$51.67 million. — Bernama

Ireka classified as PN17

IREKA Corp Bhd has been classified as a Practice Note 17 (PN17) company after Bursa Malaysia Securities Bhd rejected the application for an extension of its relief period. According to the group’s filing on Sept 1, 2021, the relief period ended on Feb 26, 2022. In a bourse filing yesterday, Ireka said the company has triggered the prescribed criteria and is a PN17 issuer, effective from Monday. The PN17 prescribed criteria is triggered by the company’s shareholders’ equity on a consolidated basis (being) 50% or less of its share capital based on the latest quarterly report for the financial period ended Dec 31, 2021. — Bernama

Sedania posts profit for FY21

SEDANIA Innovator Bhd recorded a net profit of RM8.52 million for the financial year ended Dec 31, 2021 (FY21) compared to a net loss of RM10.23 million a year ago, while revenue surged to RM49.1 million from RM29.74 million previously. Sedania said in a statement yesterday that stronger sales from its sustainable energy and sustainable healthcare segments collectively contributed 87% to group revenue. It expects to perform better in the 2022 financial year as it focuses on these two segments to grow the company. — Bernama