KUALA LUMPUR (Jan 14) — Construction and property group TRC Synergy Bhd has secured a RM249 million contract to construct new complex buildings in Precinct 5, Putrajaya, reinforcing its presence in public-sector infrastructure and government-related developments.
The contract was awarded to its wholly owned subsidiary, Trans Resources Corporation Sdn Bhd, by Gilang Cendana Sdn Bhd, a subsidiary of Putrajaya Holdings Sdn Bhd, the master developer of Malaysia’s administrative capital. The project will be carried out on Lot 45 in Precinct 5, although specific building details were not disclosed.
At RM249 million, the new project is sizeable, representing roughly 42% more than TRC Synergy’s market capitalisation, which stood at RM175.38 million as at Wednesday’s close. Following the announcement, TRC Synergy’s shares rose 0.5 sen or 1.37%, closing at 37 sen.
The latest win adds further visibility to the group’s earnings pipeline and strengthens its positioning in government-linked construction works within the Klang Valley.
This Putrajaya contract follows another major win secured last month, when TRC Synergy, through Trans Resources, landed a RM550.8 million contract from SRS Consortium Sdn Bhd — a joint venture led by Gamuda Bhd — for construction works related to the Penang LRT Mutiara Line.
Together, these projects underline TRC Synergy’s growing exposure to large-scale infrastructure and public transport developments, which often act as catalysts for surrounding commercial property in KL, integrated developments, and long-term urban expansion.
The TRC Synergy group is active across construction, property development, and hotel operations. Over the past nine months, its construction arm has tendered for more than RM1.8 billion worth of government and quasi-government projects.
As at end-September 2025, the group’s order book stood at RM468 million, providing medium-term earnings visibility.
For the nine months ended Sept 30, 2025, TRC Synergy reported a 91.2% jump in net profit to RM16.35 million, compared with RM8.56 million a year earlier. The improvement was largely attributed to the reversal of RM15.1 million in property development costs for a completed project, following a favourable Inland Revenue Board ruling on land cost computation.
Revenue for the same period, however, edged slightly lower to RM349.26 million, compared with RM353.5 million previously.
Large-scale government projects in Putrajaya and the wider Klang Valley continue to support construction activity and long-term real estate fundamentals. Improved infrastructure and public-sector developments often stimulate demand for office space in Bukit Jalil, as well as industrial land in Selangor, particularly in areas linked to logistics, manufacturing, and supporting services.
Growth corridors such as Puchong and the Subang area remain key beneficiaries of sustained infrastructure spending, driving interest in factory developments and modern industrial property that serve both domestic and multinational occupiers.
Yao Mu Realty, based in Kuala Lumpur, Malaysia, specializes in industrial real estate for factories and land, delivering professional and efficient solutions.
Posted by Yao Mu Realty Sdn Bhd on 15 Jan 26
Malaysia