TAFI's unit secure RM205 mln construction contract

KUALA LUMPUR, Dec 29 (Bernama) -- TAFI Industries Bhd's (TAFI) wholly-owned subsidiary, TAFI Home and Office Sdn Bhd has accepted a letter of award (LoA) from Metbuild Sdn Bhd (main contractor) for a turnkey construction contract worth RM205 million.

In a statement with Bursa Malaysia today, TAFI said the contract involves the construction and completion, mechanical, electrical and main infrastructure works for 941 units of small office home office units (SOHO) and related facilities in Subang Jaya, Selangor.

The group said its other wholly-owned subsidiary, T.A. Furniture and Projects Sdn Bhd has also been appointed as the project management consultant by the developer, Pinnacle Homes SJ CBD Sdn Bhd.

TAFI said the contract period shall be 34 months from the date of commencement to be notified by the main contractor and developer in writing at a later stage, which is expected to be in the financial year (FY) ending Dec 31, 2023 (FY23).

Group chief executive officer, Datuk Seri Bryan Wong said that the contract will contribute positively towards TAFI’s earnings and net tangible assets from FY23-25.

“TAFI Home and Office and T.A. Furniture and Projects, which are holders of G7 licence issued by the Construction Industry Development Board (CIDB), will continue working towards growing its revenue stream from construction contracts by tendering and securing more construction contracts from both the private sector and also government sector,” he said.

-- BERNAMA