Quick take: TCS rises on contract win


KUALA LUMPUR: Shares in TCS Group Holdings Bhd rose in early trade Monday after securing a RM177.19mil infrastructure project.

The counter rose 1.72%, or one sen to 59 sen, its highest in three weeks with 21.33 million shares done. It is trading at a PE ratio of 12.9 times.

TCS’ wholly-owned subsidiary, TCS Infra Sdn Bhd, has secured an infrastructure project for part of Section 7, Part 2 of 2 of the West Coast Expressway (WCE) worth RM177.19mil.

TCS said the group had accepted the letter of acceptance from KEB Builders Sdn Bhd for the contract, which is the final section of West Coast Expressway project.

The scope of the contract comprises geotechnical, drainage and road works.

The group said the project was expected to commence in June 2021 and scheduled for completion in 24 months.

TCS managing director Datuk Tee Chai Seng said the group is pleased to have secured its first infrastructure project, which is in line with its growth strategy to expand its infrastructure construction services.

Its latest win has boosted its outstanding orderbook to some RM1.1bil, which will provide earnings visibility for the next three years.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3

TCS , WCE , West Coast Expressway

   

Next In Business News

Bank Islam continues enhanced targeted repayment aid
UK probe of Gupta’s GFG a big test for beleaguered SFO
ESG provokes laughter and nightmares
Soros bought up stocks linked to Bill Hwang’s Archegos implosion
KLCI futures to trade higher next week
CPO futures to move higher next week
Biden rescinds Trump-era health insurance requirement for new immigrants
Venezuelan court seizes newspaper office in defamation case
FTC officials say 7-Eleven purchase of Speedway chain likely illegal despite closing
GLOBAL-LNG-Asian spot prices hit $10 on global supply disruptions

Stories You'll Enjoy


Vouchers