TSR Capital bags RM80m road project from Kwasa Land

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KUALA LUMPUR (Dec 24): TSR Capital Bhd has secured a RM79.8 million road project at the Kwasa Damansara township development in Sungai Buloh.

TSR's wholly-owned unit, TSR Bina Sdn Bhd, received the letter of acceptance from Kwasa Land Sdn Bhd today, the group said in a filing with Bursa Malaysia.

The work involves the construction of the elevated roads crossing junction at Persiaran Atmosfera-Persiaran Jati, and the upgrading of the four-arm grade junction at Kwasa Puteri-Persiaran Sg Buloh.

TSR said the project is for a period of 24 months and is expected to be completed by January 2021.

"Barring any unforeseen circumstances, the board of directors of TSR is of the opinion that the project will contribute positively to the earnings of the group for the financial years ending 2019 through 2021," the group said.

TSR's share price jumped six sen or 20% to close at 36 sen for a market capitalisation of RM62.8 million.