KUALA LUMPUR (Feb 3): PTT Synergy Group Bhd (KL:PTT) said on Tuesday that it has secured a RM34.05 million contract from Sime Darby Property Bhd (KL:SIMEPROP) for earthworks and ancillary works at the Bandar Bukit Raja development in Klang, Selangor.
The construction group said the contract involves the proposed construction and completion of earthworks and ancillary works for Phase 1 Package 4 (i32, i33 and C21) at Bandar Bukit Raja Stage 4, Mukim Kapar, Daerah Klang, according to its filing with Bursa Malaysia.
The contract was awarded to PTT Synergy’s wholly owned subsidiary Pembinaan Tetap Teguh Sdn Bhd (PTTSB), by Sime Darby Property’s unit Sime Darby Property (BBR Business Park) Sdn Bhd.
“The acceptance of the LOA [letter of acceptance] is in the ordinary course of business of PTTSB. Further, it is also carried out at arm’s length [basis, on] commercial terms which are not more favourable than those available to the general public,” the filing said.
According to the group, the pre-possession date is Jan 29, 2026, with possession commencing on March 3, 2026. Completion is scheduled for March 2, 2027 for i33, and Aug 2, 2027 for the overall package.
This marks the second contract secured by PTT Synergy from Sime Darby Property within the construction scope for the Bandar Bukit Raja Business Park development plan.
In December 2025, the group won other earthworks and ancillary works contract worth RM35.88 million where the overall completion was targeted for Sept 4, 2027.
PTT Synergy said the latest LOA is expected to contribute positively to the group’s future earnings throughout its duration.
The group added that it does not foresee any exceptional risks beyond the normal operational risks associated with the project, and said it will take the necessary mitigation measures as and when required.
Shares in PTT Synergy closed two sen or 1.45% lower at RM1.36 on Tuesday, valuing the company at RM595.7 million. The stock is down 1.45% year to date.
Meanwhile, Sime Darby Property ended unchanged at RM1.50, giving it a market capitalisation of RM10.2 billion. The stock is up 7.14% so far this year.