TRC Synergy and partners bag RM1.3bil Pan Borneo Highway job

Executive Director and Managing Director of TRC Synergy Bhd Datuk Sufri Mohd Zin

KUALA LUMPUR: A joint venture (JV) between TRC Synergy Bhd and two Sarawak-based companies, Endaya Construction Sdn Bhd and Pembinaan Kuantiti Sdn Bhd, has netted a RM1.3bil subcontract for the development and upgrading of the Pan Borneo Highway’s Batang Skrang-Sungai Awik Bridge stretch.

In a filing with Bursa Malaysia, the construction and property development group said its unit Trans Resources Corp Sdn Bhd would hold a 30% stake in the JV, which was awarded the job on Monday.

TRC Synergy said the project would not have any effect on the issued and paid-up share capital, substantial shareholders’ shareholdings, net assets per share and gearing of the company and its subsidiaries.

Several listed companies have been awarded the Pan Borneo Highway-related contracts recently, including Naim Holdings, Gamuda, Mudajaya, Cahya Mata Sarawak, Bina Puri Holdings, KKB Engineering, and WCT Holdings.

The Sarawak stretch of the Pan Borneo Highway measures 1,089km and is expected to be completed by 2022.

TRC shares closed 2 sen higher at 44.5 sen on Wednesday, with 969,000 shares changing hands.