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Thursday, October 16, 2014

YFG’s unit bags RM36.72m MRT underground works package (Edge)

YFG Bhd ’s wholly owned subsidiary, YFG Engineering Sdn Bhd (YFGE), has been appointed as the nominated sub-contractor for a Klang Valley mass rail transit (MRT) underground works project worth RM36.72 million.

In a filing with Bursa Malaysia today, YFG announced it has accepted the appointment from MMC-Gamuda KVMRT (T) Sdn Bhd on Oct 7 for the project known as “Projek Mass Rapid Transit Lembah Kelang : Jajaran Sungai Buloh – Kajang Underground Works Package for the Mechanical & Electrical Works For Package 3 (Stadium Merdeka Station)”.

It forms part of the main sub-contract for the construction, completion, testing, commissioning and care of the works – which includes the Pudu launch shaft but excludes the diaphgram wall.

“YFGE shall within 21 days from the date of acceptance, enter into a nominated sub-contract with CEC International Malaysia Sdn Bhd, the main sub-contractor for the project,” said YFG.

It added that the commencement date of the project will be advised by the main sub-contractor.

YFG expects the contract to contribute positively to future earnings and net assets per share of the group.

The electrical and mechanical engineering services provider closed at 8.5sen, for a market capitalisation of RM57.86 million.

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