KUALA LUMPUR (July 14): TSR Capital Bhd (KL:TSR) has secured a RM130 million construction job to widen a stretch of the Kuala Lumpur-Karak Highway.

The contract, awarded by AFA Construction and Engineering Sdn Bhd to its wholly-owned unit TSR Bina Sdn Bhd, covers earthworks and associated works for Package 2B of the Kuala Lumpur-Karak Highway widening project, spanning KM19.2 to KM39.0 (Section 1) and KM39.0 to KM64.5 (Section 2).

AFA Construction and Engineering is a unit of AFA Prime Bhd (formerly Anih Bhd), the concessionaire of the Kuala Lumpur-Karak Highway. AFA Prime is wholly-owned by Tan Sri Dr Azmil Khalili Khalid.

The contract value is more than three times TSR Capital's current market capitalisation of RM38.4 million. TSR Capital’s share price was last traded at 22 sen, giving the property and construction outfit a market capitalisation of RM38.4 million.

According to TSR Capital’s bourse filing, the 24-month contract is slated for completion by the third quarter of 2028.

The latest award marks TSR Capital's third contract from AFA Construction and Engineering this year.

In April, the group, through TSR Bina, secured a RM34 million flood mitigation project for Phase 1 of the East Coast Expressway. Earlier in February, TSR Capital and its joint venture partner won a RM99 million contract for Package 1B of the Kuala Lumpur-Karak Highway widening project.

TSR Capital's net profit for the third quarter ended March 31, 2026 fell 25.8% to RM577,000 from RM778,000 a year earlier, mainly due to lower contributions from its property development segment. Quarterly revenue, however, rose 57.3% to RM39.44 million from RM25.08 million, driven by higher contributions from ongoing construction projects.