TRC Synergy Bhd has secured a RM550.8 million sub-package contract from SRS Consortium Sdn Bhd for the Penang LRT Mutiara Line project.
In a Bursa Malaysia filing on Friday, TRC said the contract was awarded to its wholly owned subsidiary, Trans Resources Corp Sdn Bhd. SRS Consortium is a joint venture led by Gamuda Bhd.
The CMC1 sub-package covers construction of viaduct guideways and stations, segmental bridge girder launching, post-tensioning and grouting works, along with other related tasks.
At RM550.8 million, the contract value is over three times TRC Synergy’s market capitalisation of RM173.01 million. Shares were unchanged at 36.5 sen, up 1.39% year-to-date.
The project is expected to contribute positively to the group’s earnings and earnings per share. TRC Synergy operates in construction, property development, and hotels, with its construction division having tendered for over RM1.8 billion in government and quasi-government projects in the past nine months. As of September 2025, its order book stood at RM468 million.
For 9MFY2025, the group posted a net profit of RM16.35 million, up 91.16% from RM8.56 million a year earlier, mainly due to a RM15.1 million reversal of property development costs following an Inland Revenue Board decision. Revenue slightly declined to RM349.26 million from RM353.5 million previously.
