Theta Edge Shares Surge 10.56 Pct In Morning Trade On RM3.03 Bln LRT Contract

KUALA LUMPUR, Aug 7 (Bernama) -- Theta Edge Bhd's share price surged 10.56 per cent on Friday morning after its joint venture (JV) with Malaysian Resources Corporation Berhad (MRCB) (the MRCB-Theta Edge JV) won a RM3.03 billion contract for the construction of the Mutiara Line Light Rail Transit (LRT). 

As at 10.22 am, Theta Edge soared 7.5 sen to 78.5 sen, with 7.14 million shares changing hands, while MRCB rose half a sen to 34.5 sen, with 28.7 million shares traded. 

According to a statement issued by Malaysia Rapid Transit Corporation Sdn Bhd (MRT Corp) yesterday, the company has awarded a System Turnkey Contract (STC) to the MRCB-Theta Edge JV for the detailed design of the railway systems. 

The STC comprises seven major railway systems packages, including electric trains and depot equipment; the signalling and train control system, together with automatic platform gates; trackwork, conductor rail and maintenance vehicles; and the power supply and distribution system.

It also includes the railway SCADA system and computerised maintenance management system; telecommunications and information technology systems; and the automatic fare collection system, said MRT Corp. 

-- BERNAMA