TRC to tender for MRT, LRT projects in 2017

KUALA LUMPUR: TRC Synergy Bhd will aggressively tender for Mass Rapid Transit Corporation (MRT) and Light Rail Transit (LRT) packages this year amid efforts to build up contribution from its property segment, says Managing Director Tan Sri Sufri Mohd Zin.
TRC, mainly involved in the construction business, was gearing towards improving the contribution ratio to 80:20 from its current 90:10, of which 90 per cent comes from its construction business.
In an exclusive interview with Bernama, Sufri said the construction division managed to secure RM1.01 billion worth of new projects in 2016.
TRC is currently involved in associated works between Pasar Seni LRT Station and Kuala Lumpur KTM Station, development and upgrading the Pan Borneo Highway in Sarawak and extension of Sungai Buloh MRT Depot.
Sufri said TRC was eyeing for similar construction projects for this year, given that it has experience in the field.
"We have all the experience in the past... we know the trade, we know the price and what we should do to execute and, as of today, we have good reputation and good track record. I believe there will be more to come.," he said, adding that TRC was among the few who had been pre-qualified for the new phase of infrastructural projects for MRT, LRT and Pan Borneo Highway.
In terms of property development, the group's property development division was expected to work with Prasarana Malaysia Bhd to build transit-oriented development (TOD) towns, hence increasing the contribution from its property segment.
The TOD project is a type of community development that included a mixture of housing, office, retail and/or other amenities integrated into a walkable neighbourhood and located within a half-mile of quality public transportation.
"Prasarana is the owner of the land and the project's gross development value stood at RM1 billion," he said, adding that the project would be located at Station 2 LRT Ara Damansara, and was expected to be launched by second quarter of 2018.
TRC had ventured into the Australian property market, investing RM100 million on two projects namely Springridge Development in Wallan and East Edge Botanica Development in Melbourne.
In the Springridge Development, the group offered 906 units of housing lots set across 15.38 hectares of land. To date, 353 units have been sold. East Edge Botanica Development comprised a hotel unit and office suites.
"The contribution from TRC Australia to the group is about five per cent," Sufri said.
Besides, TRC is undertaking an affordable house project with Putra Perdana Construction Sdn Bhd to develop the 1Malaysia Civil Servants Homes project in Putrajaya.
The contract, worth RM292 million, was awarded to TRC in 2015.
"And, for Selangor, we are also obligated to have an affordable housing project in the state. Our project in Ara Damansara will have the affordable housing component," he said.
TRC's pre-tax profit for the first quarter (Q1) ended March 31, 2017 soared to RM14.88 million from RM1.16 million registered in the same period a year ago.
The company's revenue for the Q1, however, declined to RM132.94 million from RM193.21 million recorded in the corresponding quarter in 2016. — Bernama