UEM Edgenta wins RM40.43mil traffic management plan job

PETALING JAYA: UEM Edgenta Bhd has entered into a recurrent related party transaction with Afa Construction and Engineering Sdn Bhd to provide comprehensive traffic management plan and control services worth RM40.43mil.

In a filing with Bursa Malaysia, UEM Edgenta said the traffic management plan and control services will be at Kuala Lumpur – Karak Highway from KM19.20 to KM39.00 (Section 1) and from KM39.00 to KM64.50 (Section 2).

“The transaction is undertaken on an arm’s length basis, based on normal commercial terms and terms which are no more favourable than those generally available to the public.”

The company added that the transaction is expected to contribute positively to UEM Edgenta’s earnings and net assets per share for the financial year ending Dec 31, 2025.

“The transaction will not have any effect on UEM Edgenta’s issued and paid-up share capital and substantial shareholders’ shareholdings, or any material effect on the group’s gearing.