Share
KUALA LUMPUR (April 15): Muhibbah Engineering (M) Bhd (KL:MUHIBAH) said it has secured a subcontract worth RM120 million from Gamuda Industrial Building System Sdn Bhd under the Penang LRT Mutiara Line project.
The group will undertake the design, supply and installation of noise barriers and enclosures for a sub-package of the LRT project's first civil works package, according to a bourse filing on Bursa Malaysia.
Gamuda Industrial is a wholly-owned subsidiary of Gamuda Bhd (KL:GAMUDA), the majority partner of SRS Consortium Sdn Bhd, which is the main contractor for the first package involving the building of civil structures from Komtar to Silicon Island.
Muhibbah Engineering said work is scheduled to begin this month with completion expected by the third quarter of 2030. This reflects almost the entire lifecycle of works for the Mutiara Line, which is expected to be completed and begin operations in December 2031.
The group said the contract is expected to contribute positively to its earnings and net assets over the contract period for the current and subsequent financial years.
Muhibbah Engineering, which is primarily involved in engineering and construction services, saw its shares close 1.5 sen or 3.1% higher at 50 sen on Tuesday. This gives the group a market capitalisation of RM366.7 million.
..........
Get EdgeProp's montly print edition! Free delivery is available for selected regions. Subscribe now.
