Damansara Realty consortium wins RM26.21 million Rapid job

PETALING JAYA: Damansara Realty Bhd's (DBhd) consortium has clinched a RM26.21 million contract to provide security management services for Petronas' Refinery and Petrochemical Integrated Development (Rapid) project in Pengerang, Johor.
The group said in a statement that the contract can be extended to include additional services worth RM9.77 million.
The consortium consists of DBhd's 95.5%-owned subsidiary TMR Urusharta (M) Sdn Bhd, ACME Security Sdn Bhd and AHS Security Sdn Bhd.
Under the terms of the contract, the consortium will operate and maintain security for utilities, interconnecting and offsite facilities at Rapid, the second mega project in Johor's Pengerang Integrated Petroleum Complex, which is slated to be the region's largest oil and gas hub.
The contract will last for 21 months and it will bring revenue contribution immediately.
This is DBhd's second project at Rapid. On September 26, 2016, it announced that a 70%-owned TMR joint venture had secured a RM124 million contract to operate and maintain the temporary executive village and management office of Rapid project.
At 12.30pm, DBhd shares were unchanged at 54.5 sen on some 87,000 shares done, bringing it a market capitalisation of RM168.61 million.