Naim to be MRT package subcontractor

KUALA LUMPUR: Naim Holdings Bhd says its subsidiary Naim Engineering Sdn Bhd has confirmed the acceptance of a letter of award from Gadang Engineering (M) Sdn Bhd to be a subcontractor for the Mass Rapid Transit (MRT) project in the Klang Valley. The Package S2 contract involves the execution and completion of elevated stations and other works at Taman Industri Sungai Buloh, PJU 5 and Dataran Sunway for RM204.66 million. In a filing to Bursa Malaysia yesterday, the company said the project is expected to contribute positively to the earnings and net assets of the company for the financial year ending December 31 2013 onwards.