Scomi Engineering bags RM494m KL Monorail job

Scomi Engineering Bhd yesterday received the letter of award for the RM494 million KL Monorail Fleet Expansion Project from Syarikat Prasarana Negara Berhad (SPNB).

The job will take 31 months to complete, Scomi Engineering told Bursa Malaysia. No further details were provided on the scope of the project in the filing with the exchange.

Scomi Engineering said the project would not have an impact on its current year financials but is expected to “contribute positively” to its future earnings.  The letter of award followed SPNB’s letter of intent to Scomi Engineering last week.

In July this year, Scomi Engineering had handed in its proposal for the monorail expansion to SPNB. News reports earlier indicated the company might supply 48 coaches for the expansion.

The 8.6km KL Monorail comprises 11 stations linking Kuala Lumpur Sentral with prime locations in the city. Construction of the  KL Monorail which was launched in August 2003, had cost RM1.18 billion then.

Scomi Engineering closed unchanged yesterday at RM1.02 with 99,900 shares changing hands. by Chong Jin Hun