CEO Morning Brief

AWC Secures Four LRT-related Contracts From Prasarana Worth RM52 Mil

Publish date: Wed, 07 Jun 2023, 08:42 AM
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TheEdge CEO Morning Brief

KUALA LUMPUR (June 6): AWC Bhd said it has secured four light rail transit (LRT)-related contracts in the Klang Valley from Prasarana Malaysia Bhd worth a total of RM51.99 million.

Three of the contracts, with a total value of RM44.25 million, are for the design, supply and commissioning of new base plates for the Ampang Line - Phase 1 (Plaza Rakyat to Sultan Ismail stations), testing, commissioning and warranty of a rail profile grinding machine for the Ampang line, and a new underfloor lathe for the Kelana Jaya line.

The fourth contract, worth RM7.74 million, is for the supply of 400 units of UIC 60E1 grade R350HT running rails for the Ampang line and 340 units of RE 115 running rails for the Kelana Jaya line.

AWC said the first three contracts are expected to be completed within 18 to 24 months, while the fourth is a 10-month contract.

All the contracts were awarded to the group's 60%-owned unit, Trackwork & Supplies Sdn Bhd, said AWC in bourse filings. The subsidiary provides services in various areas of the railway sector such as construction and maintenance for tracks, depots and equipment.

For the nine months ended March 31, 2023, AWC’s net profit decreased to RM15.52 million, from RM19.66 million in the previous corresponding period, on lower operating income.

This was despite revenue increasing to RM287.46 million from RM253.69 million, helped mainly by the facilities and environment revenue divisions.

AWC's share price closed unchanged at 48.5 sen on Tuesday (June 6) for a market capitalisation of RM154.9 million.

Source: TheEdge - 7 Jun 2023

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