Damansara Realty partners L.C. Catering in RM124m Rapid job
KUALA LUMPUR: Damansara Realty Bhd’s wholly-owned subsidiary TMR Urusharta (M) Sdn Bhd has formed a joint venture with L.C. Catering Sdn Bhd to provide facilities management and catering services to Petronas Refinery and Petrochemical Corporation Sdn Bhd worth RM124 million.
TMR LC Services Sdn Bhd, the joint venture 70% owned by TMR and 30% by L.C. Catering, will operate and maintain the temporary executive village as well as management office of Petronas’ Refinery and Petrochemical Integrated Development (Rapid) in Pengerang, Johor.
The joint venture will provide general cleaning, pest control, landscaping and other services to Petronas’ temporary executive village and management office from Nov 1, 2016.
The contract, to be completed over 38 months, is expected to have a positive impact on Damansara Realty’s revenue from FY2016 till FY2019 (ending Dec 31).
Kuala Lumpur-based TMR is an integrated facilities management and engineering solutions provider.
“The Rapid project is a huge investment in Johor and is shaping up to be a world-class oil and gas hub. Through the joint venture, we are proud to be a part of this development. This contract underscores the strength of our facilities management services division and will boost our group ebitda over the coming years,” said Damansara Realty group CEO Brian Iskandar.