KUALA LUMPUR (Oct 11): TSR Capital Bhd has bagged a RM104 million contract — nearly double its market value of RM56 million — involving infrastructure works at the Kwasa Damansara township development in Sungai Buloh, Selangor.

In a bourse filing on Wednesday, TSR Capital said its wholly-owned subsidiary TSR Bina Sdn Bhd accepted the letter of award issued by Kwasa Land Sdn Bhd on Wednesday.

The scope of works under the contract mainly involves the execution and completion of site clearance and demolition, earthworks, drainage, road, sewerage, water reticulation, and mechanical and electrical infrastructure works.

The contract is for a duration of 30 months and is expected to be completed by April 2026.

TSR Capital expects the contract to contribute positively to its earnings for the financial years ending June 30, 2024 (FY2024) until FY2026.

TSR Capital shares price closed unchanged at 32 sen, translating into a market capitalisation of RM56 million. Year-to-date, the stock has surged 60%.