TRC Synergy gets nod for RM293m civil servant housing job

This article first appeared in The Edge Financial Daily, on September 27, 2019.
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KUALA LUMPUR: After seven months, the development of 500 1Malaysia Civil Servants Housing Programme (PPA1M) residential units, 316 public residential units and 20 commercial units in Precinct 18, Putrajaya at a gross development cost of RM292.7 million will finally proceed, as Perbadanan Putrajaya has withdrawn the notice of termination.

In a bourse filing yesterday, TRC Synergy Bhd said its wholly-owned subsidiary TRC Land Sdn Bhd yesterday received a withdrawal of the notice of termination by Perbadanan Putrajaya.

TRC Land was appointed the developer for the PPA1M project on Dec 4, 2015. The project has since been renamed Pembangunan Perumahan Penjawat Awam Malaysia.

TRC said Perbadanan Putrajaya and TRC Land, in principle, have agreed to resume the project pursuant to the development agreement executed earlier by both parties. This is subject to the finalisation of certain terms such as the completion date of the project.