PETALING JAYA: TRC Synergy Bhd’s earnings could pick up strongly from financial year 2024 (FY24) onwards on potential contract wins from the upcoming Mass Rapid Transit 3 (MRT3) project.
While earnings could still be uninspiring in FY22 and FY23, Hong Leong Investment Bank Research (HLIB Research) said this could grow by some 30% in FY24.
“We have factored in construction contract wins of RM800mil in FY22 as well as RM500mil in both FY23 and FY24. However, billings recognition will only pick up meaningfully starting from 2024.
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