KUALA LUMPUR: Geohan Corp Bhd has accepted two contracts from SRS LRT Sdn Bhd valued at a combined RM59mil for works related to the Penang Light Rail Transit (LRT) Mutiara line project.
In a statement, the foundation and geotechnical specialists said the letters of award - sub-package BP01 and sub-package BP02 - encompass bored piling construction and other associated works along the LRT line, stretching from Gelugor to the vicinity of Pesta and SPICE.
Construction works for each contract are expected to be completed on March 31, 2027, and April 30, 2027 respectively.
The company expects the contracts to provide earnings visibility over the next two years.
Geohan, which listed on the Main Market today, commenced trading at 54 sen a share, one sen below its initial public offering price of 55 sen a share.
“We are extremely delighted to accept these two new significant contract awards, coinciding with our key milestone today. Our teams are exceptionally well-prepared, positioning us as the trusted piling partner for handling complex, large-scale infrastructure projects.
"We remain confident in our ability to execute these newly awarded projects successfully, delivering optimal outcomes for our clients," said managing director Lee Kim Seng.
