Damansara Realty, KPJ Healthcare JV awarded RM27.62 million Rapid job

PETALING JAYA: Damansara Realty Bhd's (DBhd) joint venture with KPJ Healthcare Bhd has bagged a RM27.62 million contract for a small medical facility at Petronas' Pengerang refinery in Johor.

DBhd told Bursa Malaysia that its 95.5%-owned subsidiary TMR Urusharta (M) Sdn Bhd had received the letter of award (LOA) on September 25 from PRPC Utilities and Facilities Sdn Bhd for the provision of medical services for utilities, interconnecting and offsite facilities for Petronas Refinery and Petrochemical Integrated Development (Rapid) project in Pengerang, Johor.

The small medical facility project, which runs for 39 months, also includes an optional services contract for RM7.8 million, bringing the potential total contract value to RM35.42 million.

PRPC is a subsidiary of Petronas Refinery and Petrochemical Corporation Sdn Bhd.

DBhd said the job win will boost DBhd's integrated facility management (IFM) segment further, adding to the RM285 million in contracts already secured as of July this year.

"Our IFM division has been the engine in driving our return to profitability, contributing 46% to our total ebitda (earnings before interest, taxes, depreciation and amortisation) in the first half of 2017 alone," said group CEO Brian Iskandar Zulkarim.

Johor Corp is the common shareholder of DBhd and KPJ with 14.2% and 36.59% equity interest respectively.

At the noon break, DBhd shares were unchanged at 53.5 sen with some 10,300 shares changing hands. Meanwhile, KPJ shares fell one sen to RM1.07 on some 2.7 million shares done.