Damansara Realty gets RM124 million Rapid contract

Damansara Realty gets RM124 million Rapid contract

PETALING JAYA, 22 August: Damansara Realty Bhd has bagged a RM124 million operation and maintenance contact for Refinery and Petrochemical Integrated Development (Rapid) project at Pengerang, Johor.

In a filing with the stock exchange, Damansara Realty said its subsidiary TMR Urusharta (M) Sdn Bhd and TMR’s partner LC Catering Sdn Bhd had accepted the Package 20-A5 – The Operation and Maintenance of Rapid Temporary Executive Village and Rapid Temporary Management Office Facilities and Infrastructure for Rapid.

TMR Urusharta and LC Catering will form a joint-venture company to undertake the 38-month contract.

Damansara Realty said the contract is expected to contribute positively to its earnings for the financial period ending Dec 31, 2016 and beyond, as operation is expected to begin by the fourth quarter of the current financial year ending 2016.