PETALING JAYA: Tuju Setia Bhd has received approval from the Securities Commission to list on the Main Market of Bursa Malaysia.
For this purpose, Tuju Setia said it will undertake an exercise to acquire a 100% equity interest in Pembinaan Tuju Setia Sdn Bhd (PTS).
The company said it is targeting a listing in the second quarter of 2021.
Alliance Investment Bank Bhd is the principal adviser, underwriter and placement agent for Tuju Setia’s initial public offer exercise.
The construction services company said in a statement the listing will put it in a new chapter of its journey and embark on further growth in the industry.
“As a main contractor, PTS has amassed a diverse portfolio in the construction of commercial, residential and institutional buildings, with core expertise in the construction of high-rise buildings.
“We offer value engineering such as providing alternative designs and have delivered projects on time, aided by the Industrialised Building System and Building Information Modelling, ” managing director Wee Eng Kong said.
Tuju Setia is a main contractor with experience in commercial, residential and institutional buildings mainly in the Klang Valley.
It is a Grade G7 contractor registered with the Construction Industry Development Board (CIDB)/
It has the code B29 with the CIDB that allows it to undertake construction of hospitals and healthcare facilities, and holds the Sijil Perolehan Kerja Kerajaan that enables its participation in tenders for government projects.