KUALA LUMPUR (March 6): Vertice Bhd has secured a RM100 million subcontract to supply labour and equipment for the precast viaduct (u-trough girder) of the Light Rail Transit Line 3 (LRT3).
The group's wholly-owned unit Vertice Construction Sdn Bhd (VCSB) accepted the subcontract offer from Reaptile Industry Sdn Bhd today, Vertice said in a stock exchange filing.
Reaptile is the main contractor for the precast viaduct for the construction of the LRT3 line from Bandar Utama in Petaling Jaya to Johan Setia in Klang via Shah Alam.
"The subcontract is expected to contribute positively towards the group's earnings and net tangible assets for the period of the subcontract," said Vertice.
The two-year construction period ends on March 5, 2021.
Shares in Vertice rose 4 sen or 4.7% to close at 90 sen today, giving the group a market capitalisation of RM168.22 million.