Theta Edge JV Bags New Order Worth MYR3.03 Billion; Shares Surge 25%
Theta Edge (KLSE:THETA) said its unincorporated joint venture company, MRCB-Theta JV, has secured an order worth 3.03 billion ringgit from MRT Corporation, according to a Thursday filing to the Malaysian bourse.The company's shares jumped over 25% in recent trade.The joint venture between the company and Malaysian Resources Corporation has been awarded the role of system turnkey contractor for the engineering, design, procurement, construction, testing and commissioning, and maintenance of the railway systems for the Rapid Transit Aliran Ringan (LRT) Pulau Pinang - Laluan Mutiara project.As the system turnkey contractor, Theta is also expected to undertake selected technology-related work packages comprising railway systems, telecommunications, and digital infrastructure works.The project is expected to contribute positively to the future earnings of the group over the duration of the project.