Damansara Realty secures RM5m TM contract renewal

KUALA LUMPUR: Damansara Realty Bhd has secured RM5mil in renewal contracts from Telekom Malaysia Bhd for the provision of integrated facilities management (IFM) services.

The contracts were awarded to Damansara Realty subsidiary TMR Urusharta Sdn Bhd for the comprehensive management of civil, mechanical and electrical services for several Telekom buildings over a one year period.

“Our continued wins in new and renewed contracts are a validation of our commitment and effort towards synergising our offerings in our three core areas of IFM, property development and project management consultancy to serve a stronger proposition to our clients,” said Brian Iskandar Zulkarim, group chief executive officer of Damansara Realty.

Earlier this week, DBhd won an IFM project for an estimated RM27.62mil in a joint venture with Kumpulan Perubatan (Johor) Sdn Bhd for a small medical facility in Petronas’ Pengerang refinery in Johor.

Damansara Realty saw its gross profit surge 78% to RM27.6mil from RM15.5mil a year ago and achieved a net profit of RM2.5mil in the first half of 2017 compared to a net loss of RM9.8mil in the corresponding period in 2016.

“Since the start of our aggressive strategic restructuring plan in late 2016, we have accomplished a commendable turnaround that has been driving our return to profitability, thereby strengthening DBhd’s brand and delivering our shareholders’ expectations,” Brian Iskandar added.

At 3.38pm, Damansara Realty was down three sen or 5.04% to 56.5 sen on the back of 160,000 shares done.