HI Mobility (KLSE:HI) unit Handal Indah accepted a letter of acceptance from Perbadanan Pengangkutan Awam Johor to operate intra-city bus services under Bas MUAFAKAT Johor worth 78.2 million ringgit, according to a Thursday Malaysian bourse filing.

Shares of the transportation company gained over 1% in Friday's midday trade.

The project, which runs from Jan. 1, 2026, to Dec. 31, 2030, with a two-year extension option.

Handal Indah and Perbadanan Pengangkutan Awam Johor will sign a definitive deal at a later date to formalize the terms, the filing said.