KUALA LUMPUR (Jan 23): Citaglobal Bhd (KL:CITAGLB) has secured two subcontracts worth a combined RM36.26 million for station works and other works as part of the Kuching Urban Transportation System (KUTS) project in Sarawak.

The first subcontract was awarded by Marquris Holdings Sdn Bhd for Package 2 station works under Phase 1 of the infrastructure works, and has a value of RM29.54 million.

The second subcontract, which was awarded by 38 Marque Sdn Bhd, is for steel structure materials purchase for the same project phase, with a contrac value of RM6.72 million, Citaglobal said.

Both contracts have a duration of 14 month each.

These would be the second set of projects undertaken by Citaglobal in Sarawak in the past year.

In September 2024, it secured two contracts worth a combined RM50.95 million, including a riverwall construction from NL Builder Sdn Bhd, and infrastructure works that is also related to the Kuching Urban Transportation System, from Avos (M) Sdn Bhd.

In its nine months ended September 2024 (9MFY2024), Citaglobal's net profit fell to RM8.16 million or 1.94 sen per share, from RM9.39 million or 2.32 sen per share last year, while revenue slipped to RM197.61 million, from RM205.66 million.

At market close on Thursday, Citaglobal shares fell 2.9% or 2.5 sen to close at 84.5 sen, giving it a market capitalisation of RM395.5 million. The counter is down 5% this year.