KUALA LUMPUR – TRC Synergy Bhd (KL:TRC) has secured a RM550.8 million contract from SRS Consortium Sdn Bhd for works on the Penang Light Rail Transit (LRT) Mutiara Line, marking a significant milestone for the group.
The contract was awarded to TRC Synergy’s wholly owned subsidiary, Trans Resources Corp Sdn Bhd, with SRS Consortium led by Gamuda Bhd (KL:GAMUDA). The project covers the CMC1 sub-package, which includes construction and completion of viaduct guideways and stations, segmental bridge girder launching, post-tensioning, grouting works, and related civil engineering tasks.
With a contract value exceeding three times TRC Synergy’s market capitalisation of RM173 million, the project is set to be a major earnings driver for the construction and civil engineering group. Shares in TRC Synergy remained steady at 36.5 sen, reflecting the market’s confidence in the project’s potential.
The contract reinforces TRC Synergy’s position in infrastructure and property development, particularly in urban transport projects. The group’s construction division has actively tendered for over RM1.8 billion worth of government and quasi-government projects in the past nine months, with an existing order book of RM468 million as of September 2025.
TRC Synergy’s diverse operations span construction, property development, and hotel management, offering strategic synergies between its industrial, commercial, and residential property assets. The LRT project is expected to enhance its long-term growth prospects and net earnings, strengthening its footprint in major urban hubs such as Penang and potentially supporting ancillary commercial and industrial developments along the transit corridor.
For the nine months ended 30 September 2025 (9MFY2025), TRC Synergy recorded a net profit of RM16.35 million, a 91% increase from RM8.56 million a year ago, primarily due to a RM15.1 million reversal of property development costs following a land cost computation decision by the Inland Revenue Board. Revenue for the period marginally declined to RM349.26 million from RM353.5 million previously.
This landmark LRT contract underscores TRC Synergy’s capability to manage large-scale infrastructure projects, while its diversified portfolio, including industrial land in Selangor, office space in Bukit Jalil, and commercial property in Kuala Lumpur, positions the group for sustained growth in Malaysia’s property and infrastructure sectors.
Malaysia