Muhibbah Engineering unit bags RM57.6m LRT3 contract

PETALING JAYA: Muhibbah Engineering (M) Bhd unit has been awarded a contract worth RM57.6 million for the Light Rail Transit Line 3 (LRT3) project from Prasarana Malaysia Bhd.
In a filing with Bursa Malaysia, the company said the award was accepted via a joint venture in which Muhibbah has 49% equity interest.
The contract is for the design, supply, delivery, installation, testing and commissioning of noise barrier for Package NBE (E) for LRT3 from Bandar Utama to Johan Setia.
Construction works for the contract will commence immediately and is expected to be completed by the third quarter of 2020.
The contract is expected to contribute positively to the earnings and net assets of the group for the current and future financial years.
Muhibbah's share price rose 0.33% or 1 sen to close at RM3.01 today, with a total of 637,300 shares traded.