TRC Synergy unit wins RM118.8m mint modernisation contract from BNM

TheEdge Thu, Dec 26, 2019 06:11pm - 4 years View Original


KUALA LUMPUR (Dec 26): TRC Synergy Bhd's wholly-owned subsidiary was awarded a RM118.8 million contract by Bank Negara Malaysia (BNM) to modernise its mint in Shah Alam, it said in a bourse filing today.

Trans Resources Corp Sdn Bhd received the contract from the central bank on Dec 24.

No further detail about the job was provided in the announcement.

"The board is of the opinion that the project will contribute positively to the earnings and earnings per share of the TRC Group in the future," the group said.

The Edge Financial Daily had reported on Aug 13 that BNM planned to demolish its mint Kilang Wang Bank Negara Building on Persiaran Selangor, Selangor, and consequently redevelop the site as part of its mint modernisation project.

The site is over two decades old, and produces coins and commemorative coins.

The daily had sighted documents that indicated BNM's new plan for the site comprises a two-storey coin production facility, a three-storey office building, and a two-storey exhibition.

Shares in TRC Synergy ended the trading day 5% or two sen higher at 42 sen, giving it a market capitalisation of RM201.81 million. The counter saw 354,800 shares traded.

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