Muhibbah's associate bags RM32.7m LRT3 contract

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KUALA LUMPUR (March 22): Muhibbah Engineering (M) Bhd’s 49%-owned joint-venture company has won an RM32.7 million contract for the Light Rail Transit Line 3 (LRT3) project.

In a filing with Bursa Malaysia today, Muhibbah said the company is tasked to design, supply, install and test the noise barrier for the line that links Bandar Utama in Petaling Jaya with Klang.

Muhibbah said the contract awarded by Prasarana Malaysia Bhd is expected to contribute positively to its earnings and net assets for the current and future financial years.

Construction works will start immediately and are expected to be completed by the fourth quarter of 2019, it added.

Muhibbah’s shares closed unchanged at RM3 today for a market capitalisation of RM1.44 billion.