Theta Edge Bhd has secured a five-year contract from Prasarana Malaysia Bhd to develop and manage telecommunications infrastructure along the Light Rail Transit 3 (LRT3), also known as the Shah Alam Line.
In a filing with Bursa Malaysia, the company announced that its wholly-owned subsidiary, Theta Telecoms Sdn Bhd, has been appointed as the network operator and strategic partner by Prasarana Integrated Development Sdn Bhd.
Under the agreement, Theta Telecoms will be responsible for installing, operating and maintaining telecommunications equipment and providing network services along the LRT3 route.
Prasarana will receive either RM500,000 annually or 13% of the project’s gross revenue, whichever is higher. The remaining revenue will go to Theta Telecoms.
The contract began on 1 September 2026 and will run for five years, with an option to extend for two additional five-year terms, depending on the company’s performance and compliance with the agreement.
As part of the project, Theta Telecoms will develop telecommunications services along LRT3 tracks, stations and surrounding developments. The company also plans to offer additional network services to business customers.
Theta Telecoms will oversee the design, installation and maintenance of fibre cables, telecommunications equipment and other network infrastructure.
The company must ensure that all installations operate safely without affecting train services, signalling systems, power supply or existing railway infrastructure.
Theta Edge said the contract provides an opportunity to expand its telecommunications business while generating recurring revenue and improving long-term cash flow.
The group also expects to benefit from increasing demand for data and connectivity services in areas surrounding the LRT3 corridor.
The project will be financed through internally generated funds or borrowings.
As of 30 June 2026, Theta Edge had RM23.85 million in cash and total borrowings of RM9.14 million.
The company has recorded annual losses since 2024. However, its financial performance showed improvement during the first half of 2026.
For the six months ended 30 June 2026, Theta Edge narrowed its net loss to RM7.77 million from RM10.21 million in the corresponding period last year.
Revenue increased to RM11.58 million from RM9.03 million over the same period.
Stealth Solutions Sdn Bhd is currently Theta Edge’s largest shareholder, holding a 27.28% stake following Lembaga Tabung Haji’s disposal of its entire shareholding in January 2026.
According to the Companies Commission of Malaysia, Stealth Solutions is 75%-owned by Datuk Amrul Hisyam Alias and 25%-owned by Norul Azwani Mohd Hanafi.
Meanwhile, Theta Edge shares closed 0.5 sen lower, or 0.78%, at 63.5 sen, giving the company a market capitalisation of approximately RM74.32 million.
The latest contract is expected to strengthen Theta Edge’s presence in Malaysia’s telecommunications infrastructure sector while creating opportunities for more stable, recurring income.
