TCS GROUP SECURES CONSTRUCTION DEAL WORTH RM555 MLN
KUALA LUMPUR, June 22 -- TCS Group Holdings Bhd has secured a RM555 million contract to undertake the main building works for a mixed-use development project in Setapak, Kuala Lumpur, known as J.Satine.
The construction services provider said its wholly-owned subsidiary, TCS Construction Sdn Bhd, today accepted the contract from Jayyid Land Sdn Bhd for the project, which includes four apartment blocks under the Residensi Wilayah (RUMAWIP) project as well as a small office/ home office (SoHo) tower block.
The project would span 36 months from September 2021 to September 2024, the company said in a filing with Bursa Malaysia today.
In a media statement, TCS managing director Datuk Ir Tee Chai Seng said the contract was the fourth project the group had secured in 2021, which improved its outstanding order book to about RM1.6 billion and provided earnings visibility for the next three financial years.
“Looking ahead, notwithstanding the exacting operating landscape, our prospects remain intact premised upon our improved order book and accelerated mass rollout of COVID-19 vaccination,” he said.
The group said its tender book remained strong at about RM2.4 billion.
At the close today, TCS shares rose 2.5 sen to 57 sen with 11.45 million units transacted.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 IFLIX channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
