Ingress submits tender for LRT extension and KTM jobs

KUALA LUMPUR: Ingress Corp Bhd has submitted tender for several projects including the Ampang line light rail transit (LRT) extension and RM1.5bil worth of jobs from Keretapi Tanah Melayu Bhd (KTMB).

Executive vice-chairman cum CEO Datuk Rameli Musa said Ingress had submitted the tender for KTMB works in March and the results would be announced in September.

The company hoped to secure the job as its bid was the lowest, he said after the company AGM yesterday.

Ingress' 49% owned Balfour Beatty Rail Sdn Bhd has secured a RM1bil contract to implement the rail system package for the Ipoh-Padang Besar electrified double-tracking project.

Rameli said the profit from the contract had not been realised and would be once it was completed. “Any profit will only be reflected at the end of the project... that's our practice,” he added.

Asked if Ingress had been short-listed for the Ampang LRT extension project, Rameli said the consortium comprising Ingress, Invensys Rail and the group's associate Balfour Beatty had been shortlisted to undertake the system works.

Ingress is also eyeing several more projects in the country including the RM50bil mass rapid transit.

Rameli said Ingress would also submit a bid for the system works for the 197 km Gemas-Johor Baru electrified double tracking project. “We will look for partners for this job. The value of the bid may be close to RM1bil,” he added.

On contract secured, Rameli said Ingress had secured contracts worth RM388mil. The contracts, secured by its power engineering and projects division, are expected to contribute to the group for its current financial year ending Jan 31, 2012 (FY12)

“Our automotive usually contributes a turnover of RM500mil a year. We will sustain at that level if we don't get new orders,” he said.

Rameli said the group's joint-venture company in India, Ingress-Mayur Autoventures Pte Ltd, in which Ingress owns 40% equity had already secured a contract to supply mouldings.