KUALA LUMPUR (Jan 14): TSR Capital Bhd has secured an RM307 million earthwork sub-contract for the Gemas-Johor Bahru electrified double-track project.
The group said its wholly-owned subsidiary, TSR Bina Sdn Bhd, was awarded the sub-contract by Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd.
TSR Bina will be undertaking site clearance and embankment earthwork for the project, with work expected to be completed by March 2020, TSR Capital said in a statement.
The Gemas-Johor Bahru double-tracking project involves the construction of 197km of double tracks, stations, electric trains, depots, land viaduct, bridges, and electrification and signalling systems.
TSR Capital said TSR Bina has previously carried out earthworks at the Kajang depot under the Mass Raid Transport Line 1 (MRT1) project and at the Serdang depot for MRT2 project.
“Besides that, we are also carrying out the Kuantan Port City link road project under the East Coast Economic Region Development,” said TSR Capital chief operating officer Datuk Wan Abd Razak Ismail.
“With our vast experience in earthwork and infrastructure works, we expect that this new contract will contribute positively to the group's earnings and net assets per share for the financial years ending June 30, 2019 and 2020," he added.
Shares of TSR Capital fell 2.5 sen or 5.56% to close at 42.5 sen, giving it a market capitalisation of RM78.5 million.