Theta Edge Berhad ("Theta" or "the Company") is pleased to announce that the unincorporated joint venture between Malaysian Resources Corporation Berhad ("MRCB") and Theta, known as MRCB-Theta JV, has been awarded the role of System Turnkey Contractor ("STC") by MRT Corporation Sdn Bhd ("MRT Corp") for the Engineering, Design, Procurement, Construction, Testing & Commissioning and Maintenance of the railway systems for the Rapid Transit Aliran Ringan (LRT) Pulau Pinang - Laluan Mutiara project ("Project"), with an overall contract value of approximately RM3.028 billion.
The Project enables the detailed design of the railway systems to proceed in parallel with the ongoing civil construction programme, ensuring that both components remain aligned towards the timely delivery of the overall project.
As part of its participation as the STC, Theta is expected to undertake selected technology-related work packages comprising railway systems, telecommunications, and digital infrastructure works. The detailed allocation of work packages will be finalised under the Joint Venture Agreement.
Theta's participation as the STC under the Project further strengthens its strategic positioning in mission-critical transportation technology, operational technology ("OT"), telecommunications infrastructure, and intelligent railway systems. The Project is expected to enhance Theta's technical credentials and establish an important reference for future railway, intelligent transport, and digital infrastructure opportunities in Malaysia and across the region.
This appointment marks another significant milestone in Theta's strategy to strengthen its position in the telecommunications and digital infrastructure sectors while expanding its participation in the delivery of Malaysia's critical national infrastructure projects.
The Project also enhances the Group's credentials in delivering complex transportation technology and intelligent mobility solutions, further positioning Theta to pursue future opportunities in railway systems, smart mobility, and digital transport infrastructure, consistent with the Group's strategic transformation into a technology and digital infrastructure company.
The Project is expected to contribute positively to the future earnings of the Group over the duration of the Project, subject to the timing of execution, the Company's actual scope of works, project progress, and normal business operating conditions.
The Project will be subject to the normal risks associated with engineering, procurement, and construction activities, including execution risks, supply chain availability, material and equipment price fluctuations, regulatory compliance, and operational risks. The Company will continue to implement appropriate project governance, commercial controls, and risk management measures throughout the execution of its scope of works.
None of the Directors, major shareholders of the Company, and/or persons connected with them has any direct or indirect interest in the Project other than through their respective shareholdings in the Company.
This announcement is dated 6 August 2026.