The Board of Directors of Citaglobal wishes to announce that Citaglobal Land Sdn. Bhd. ("CLSB"), a wholly-owned subsidiary of the Company, had on 3 June 2026 accepted a Letter of Award ("LOA") dated 18 May 2026 from SRS Consortium Sdn Bhd ("SRS Consortium") in respect of Sub-Package LS03: Construction and Completion of Long Spans, Special Spans and Other Associated Works from KOMTAR to East Jelutong ("Sub-Package LS03") ("Subcontract"), with a subcontract sum of RM37,788,000.
For information, the subcontract works were procured via a tender process undertaken by SRS Consortium.
CLSB submitted its tender for Sub-Package LS03 on 9 April 2026, followed by a subsequent submission through the ARIBA e-Auction platform on 8 May 2026.
Sub-Package LS03 forms part of the Projek Rapid Transit Aliran Ringan (LRT) Pulau Pinang: Laluan Mutiara ("Project"), under Package CMC1. SRS Consortium is the Civil Main Contractor for Package CMC1, which comprises the design, construction and completion of viaduct guideway, elevated stations, depot and other associated works from Penang South Reclamation (PSR) Island A to KOMTAR. The employer under the Project is MRT Mutiara Sdn Bhd. The scope of works under Sub-Package LS03 comprises the construction and completion of long spans, special spans and other associated works from KOMTAR to East Jelutong, as more particularly described in the Subcontract documents.
The commencement and completion dates for Sub-Package LS03 are as stipulated in the Conditions of Sub-Contract forming part of the Subcontract documents. CLSB is required to execute the Articles of Agreement within three (3) months from the date of the LOA. Until the Articles of Agreement are executed, the LOA together with the Subcontract documents shall constitute a legally binding contract between SRS Consortium and CLSB. CLSB is also required to furnish a Performance Bond amounting to RM1,889,400 within fourteen (14) days from the date of the LOA.
The acceptance of the LOA is in the ordinary course of business of CLSB.
Following the acceptance of the LOA, the outstanding order book of Citaglobal and its subsidiaries ("Group") on a pro forma basis stands at approximately RM1.45 billion as at the date of this announcement.
The Subcontract will not have any effect on the issued share capital and the shareholdings of the substantial shareholders of the Company.
The Subcontract is expected to contribute positively to the earnings, earnings per share and net assets of the Group during the Subcontract period.
The Company does not foresee any exceptional risk other than the normal operational and project execution risks associated with construction subcontracts of this nature. Nevertheless, the Company will take the necessary steps to mitigate such risks as and when they arise.
None of the Directors and major shareholders of the Group and/or persons connected to them has any interest, whether direct or indirect, in the Subcontract.
Information on the Project
The Projek Rapid Transit Aliran Ringan (LRT) Pulau Pinang: Laluan Mutiara is a light rail transit project under development in Penang, Malaysia. Package CMC1 of the Project relates to the civil main contractor scope for the design, construction and completion of viaduct guideway, elevated stations, depot and other associated works from Penang South Reclamation (PSR) Island A to KOMTAR. Sub-Package LS03 relates specifically to the construction and completion of long spans, special spans and other associated works along the alignment from KOMTAR to East Jelutong.
This announcement is dated 3 June 2026.