SunCon bags RM605m contract for Rapid Transit System Link project

Sunway Construction Bhd (SunCon) has been awarded a RM604.86 million contract for Package 1B and Package 5 of the Rapid Transit System (RTS) Link project linking Johor Bahru and Singapore.

The contract entails the proposed construction and completion of Package 1B Advance Works for Station and Viaducts and Package 5 Terrestrial Viaducts and Ancillary Structures for the RTS Link project.

It told the stock exchange that its unit, Sunway Construction Sdn Bhd signed the letter of acceptance issued by Malaysia Rapid Transit System Sdn Bhd today.

SunCon said the RTS Link project is for a period of 26 months and is expected to be completed by the second quarter of 2025.

Barring any unforeseen circumstances, SunCon said the RTS Link project is expected to contribute positively to the group’s earnings for the financial year ending December 2023 onwards.

SunCon shares were unchanged today at RM1.62, with a market capitalisation of RM2.1 billion. – TMR