KUTS bid loss forecast to weigh on TRC Synergy

HLIB Research said TRC’s unbilled orderbook stands at RM400mil translating to a thin 0.7 times cover.

PETALING JAYA: TRC Synergy Bhd’s orderbook, which stands at around RM400mil, could stay in a downward trajectory in the near term after losing out on bids for the Kuching Urban Transportation System (KUTS)

“We gather that post-meeting, TRC has lost out on both its KUTS bids. This would reduce TRC’s current outstanding tenders to an estimated RM3.8bil,” Hong Leong Investment Bank (HLIB) Research said in a note.