TSR Capital gains 6% on Gemas-Johor Bahru electrified double-track subcontract

KUALA LUMPUR: Shares of TSR Capital Bhd rose in early trade Tuesday, after the company announced that it has secured a RM307mil contract for Gemas-Johor Bahru electrified double-track project.

The counter gained 5.88%, or 2.5 sen to 45 sen in thin volume. TSRCap-WB rose 11.11%, or 0.5 sen to five sen with 44,300 shares done.

TSR Capital has received a RM307mil subcontract job for the Gemas-Johor Baru electrified double-tracking project from Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd.

TSR said its subsidiary, TSR Bina, had received a letter of award for work at one of the sections in civil works, including site clearance and embankment earthwork with all associated works.

The company said the work is expected to commence this month and be completed by March 2020.

The Gemas-Johor Baru double-tracking project involves the construction of 197km of double tracks, stations, electric trains, depots, land viaducts, bridges, and electrification and signalling systems.

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