KUALA LUMPUR: Citaglobal Bhd
’s wholly-owned subsidiary, Citaglobal Land Sdn Bhd (CLSB), has bagged a subcontract for the light rail transit (LRT) Penang Mutiara Line project from SRS Consortium Sdn Bhd, worth RM37.79 million.
"The scope of works under the subcontract comprises the construction and completion of long spans, special spans and other associated works from KOMTAR to East Jelutong, as more particularly described in the subcontract documents,” the company said in a filing to Bursa Malaysia today.
Citaglobal said CLSB is required to execute the articles of agreement within three months from the date of the letter of award (LOA). Until the articles of agreement are executed, the LOA, together with the subcontract documents, should constitute a legally binding contract between SRS Consortium and CLSB, it said.
CLSB is also required to furnish a performance bond amounting to RM1.88 million within 14 days from the date of the LOA, it added.
Following the acceptance of the LOA, Citaglobal said the outstanding order book of the group and its subsidiaries stood at about RM1.45 billion. - Bernama
