Thursday, 6 July 2017

Damansara Realty secures RM26mln contract for Petronas' Pengerang project

Damansara Realty Bhd has bagged a RM26.21 million contract to provide security management services for Petroliam Nasional Bhd’s (Petronas) Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang, Johor.

In a filing to Bursa Malaysia
, the company said the contract can be extended to include additional services worth RM9.77 million.

It said Petronas subsidiary PRPC Utilities and Facilities Sdn Bhd awarded the contract to a consortium comprising Damansara Realty’s subsidiary TMR Urusharta (M) Sdn Bhd (TMR), ACME Security Sdn Bhd and AHS Security Sdn Bhd.

It said under the terms of the contract, the consortium will operate and maintain security for utilities, interconnecting and offsite facilities at RAPID, the second mega project in Johor’s Pengerang Integrated Petroleum Complex, which is slated to be the region’s largest oil and gas hub.

“The project is expected to have a positive impact on Damansara Realty’s earnings and net assets from the financial year ending December 31, 2017,” it said.

Its chief executive officer Brian Iskandar Zulkarim said the contract win is a tremendous validation of the Group’s integrated facilities management offerings.

“We will continue to leverage synergies between our divisions to become a one-stop preferred assets and facility management solutions provider,” he said.

TMR managing director Shamsul Mohd Salleh said this marks the company’s second contract win for the RAPID project, underscoring the vote of confidence in its services.

“We will continue to enhance and build upon our services to ensure we remain at the forefront of the industry,” he said.

Damansara Realty had in September announced that a 70 per cent-owned TMR joint venture had secured a RM124 million contract to operate and maintain the temporary executive village and management office of Petronas’ RAPID project.