TRC to tender for MRT, LRT projects this year

KUALA LUMPUR: TRC Synergy Bhd will tender for Mass Rapid Transit Corp (MRT) and Light Rail Transit (LRT) packages this year to boost contribution from its property segment, says managing director Tan Sri Sufri Mohd Zin.

TRC, which is mainly involved in the construction business, was gearing to improve the contribution ratio to 80:20 from 90:10 currently, of which 90% comes from its construction business.

In an exclusive interview with Bernama, Sufri said the construction division managed to secure RM1.01 billion worth of new projects in 2016.

TRC is currently involved in associated works between Pasar Seni LRT Station and Kuala Lumpur KTM Station, development and upgrading of the Pan Borneo highway in Sarawak and extension of the Sungai Buloh MRT depot.

Sufri said TRC was eyeing similar construction projects this year, given its experience.

"We have all the experience in the past... we know the trade, we know the price and what we should do to execute and, as of today, we have good reputation and good track record. I believe there will be more to come.," he said, adding that TRC was among the few pre-qualified for the new phase of infrastructure projects for MRT, LRT and Pan Borneo highway.

As for property development, the division was expected to work with Prasarana Malaysia Bhd to build transit-oriented development (TOD) towns, hence increasing contribution from that segment.

The TOD project is a type of community development that included a mixture of housing, office, retail and/or other amenities integrated into a walkable neighbourhood and located within a half-mile of quality public transportation.

"Prasarana is the owner of the land and the project's gross development value stood at RM1 billion," he said, adding that the project, located at Station 2 LRT Ara Damansara, was expected to be launched by the second quarter of 2018.

On another note, TRC has ventured into the Australian property market, investing RM100 million in two projects, namely, Springridge Development in Wallan and East Edge Botanica Development in Melbourne.

In the Springridge Development, the group offered 906 units of housing lots on 15.38ha. To date, 353 units have been sold. East Edge Botanica Development comprised a hotel and office suites.

"The contribution from TRC Australia to the group is about 5%," Sufri said.

TRC has also teamed up with Putra Perdana Construction Sdn Bhd to develop the 1Malaysia Civil Servants Homes project in Putrajaya.

The contract, worth RM292 million, was awarded to TRC in 2015.

"And, for Selangor, we are also obligated to have an affordable housing project in the state. Our project in Ara Damansara will have the affordable housing component," he said.

TRC's pre-tax profit for the first quarter ended March 31, 2017, soared to RM14.88 million from RM1.16 million a year ago. Its revenue, however, declined to RM132.94 million from RM193.21 million previously. - Bernama

Article type: metered
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Business News

KTB unit secures contract worth RM26.44mil Premium
Celcom accelerates capex of RM825mil for network improvements to meet rapid data growth Premium
Astro posts RM106mil profit in 3Q, declares 1.5 sen dividend Premium
KLCI back above 1,500-level on last-minute buying Premium
Bursa Malaysia launches Bursa Digital Research to bridge information gap among investors Premium
China's Kaisa kicks off US$12bil debt restructuring after missing pay date Premium
Oil adds to gains as worries over Omicron ease Premium
Air passenger traffic to grow by over 300% in 2022 Premium
Building material cost index in Peninsular Malaysia increased between 0.1% and 1.3% in Nov Premium
FBM KLCI slightly higher amid ongoing consolidation Premium

Others Also Read