By Sharen Kaur
sharen@nstp.com.my
Published in NST on August 22 2011
Malaysian Resources Corp Bhd (MRCB), which have clinched a couple of contracts related to Ampang and Kelana Jaya light rail transit (LRT) extension projects, will continue to bid for other packages of the LRT extension as well as the mass rapid system (MRT), its chief executive officer Datuk Mohamed Razeek Hussain said.
Last Tuesday, MRCB, through its subsidiary, MRCB Engineering Sdn Bhd (MESB) won a contract worth RM1.33 billion for the Ampang LRT extension from Syarikat Prasarana Negara Bhd (SPNB).
MESB also secured a sub-contract worth RM67.2 million from Sunway Construction Sdn Bhd, for the fabrication and delivery of segmental box girders for the Kelana Jaya LRT extension.
These are the first of a series of major packages awarded under the two LRT extension projects.
According to Razeek, the company will handle the RM1.33 billion job on its own without third party involvement.
"It involves a lot of work but it is not difficult to do. We can manage it on our own," he told Business Times in an interview.
MRCB has experience in han-dling railway matters, thanks to its multibillion-ringgit Kuala Lumpur Sentral and Penang Sentral transportation projects.
"Winning the RM1.33 billion LRT extension contract under the current intense competitive mar-ket is testimony to our capabili-ties and experiences in carrying out major infrastructure projects in the country.
"The award has boosted our construction order book enormously, from the current outstanding works of over RM1 billion to about RM2.6 billion, and is expected to contribute positively to our revenue and earnings growth from fiscal 2012 onwards," he said.
Kenanga Research estimates MRCB's revenue to increase to RM1.16 billion this year and RM1.64 billion next year from the RM1.07 billion in 2010.
It also expects pre-tax profit rising to RM94.6 million and RM181.3 million in 2011 and 2012, respectively, compared with the RM67.3 million posted last year.
MIDF Research, which also expects significant contribution from the contract to kick in next year, has raised its earnings forecast for fiscal 2012 by 29 per cent.
For the RM52 billion MRT project, Razeek said MRCB has been named by SPNB as one of 28 shortlisted individuals and joint-venture companies eligible to bid for va-rious elevated civil works, station and depot packages.
He said out of the 18 work pac-kages, MRCB has been shortlisted for eight packages under elevated civil works.
-ENDS-
sharen@nstp.com.my
Published in NST on August 22 2011
Malaysian Resources Corp Bhd (MRCB), which have clinched a couple of contracts related to Ampang and Kelana Jaya light rail transit (LRT) extension projects, will continue to bid for other packages of the LRT extension as well as the mass rapid system (MRT), its chief executive officer Datuk Mohamed Razeek Hussain said.
Last Tuesday, MRCB, through its subsidiary, MRCB Engineering Sdn Bhd (MESB) won a contract worth RM1.33 billion for the Ampang LRT extension from Syarikat Prasarana Negara Bhd (SPNB).
MESB also secured a sub-contract worth RM67.2 million from Sunway Construction Sdn Bhd, for the fabrication and delivery of segmental box girders for the Kelana Jaya LRT extension.
These are the first of a series of major packages awarded under the two LRT extension projects.
According to Razeek, the company will handle the RM1.33 billion job on its own without third party involvement.
"It involves a lot of work but it is not difficult to do. We can manage it on our own," he told Business Times in an interview.
MRCB has experience in han-dling railway matters, thanks to its multibillion-ringgit Kuala Lumpur Sentral and Penang Sentral transportation projects.
"Winning the RM1.33 billion LRT extension contract under the current intense competitive mar-ket is testimony to our capabili-ties and experiences in carrying out major infrastructure projects in the country.
"The award has boosted our construction order book enormously, from the current outstanding works of over RM1 billion to about RM2.6 billion, and is expected to contribute positively to our revenue and earnings growth from fiscal 2012 onwards," he said.
Kenanga Research estimates MRCB's revenue to increase to RM1.16 billion this year and RM1.64 billion next year from the RM1.07 billion in 2010.
It also expects pre-tax profit rising to RM94.6 million and RM181.3 million in 2011 and 2012, respectively, compared with the RM67.3 million posted last year.
MIDF Research, which also expects significant contribution from the contract to kick in next year, has raised its earnings forecast for fiscal 2012 by 29 per cent.
For the RM52 billion MRT project, Razeek said MRCB has been named by SPNB as one of 28 shortlisted individuals and joint-venture companies eligible to bid for va-rious elevated civil works, station and depot packages.
He said out of the 18 work pac-kages, MRCB has been shortlisted for eight packages under elevated civil works.
-ENDS-
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