Quick take: TCS falls 7% despite RM555mil contract award


KUALA LUMPUR: Shares in TCS Group Holdings Bhd edged down this morning despite securing a RM555mil contract.

The building and infrastructure construction services provider fell 7.02%, or four sen to 53 sen. TCS-WA lost 10.87%, or 2.5 sen to 20.5 sen.

TCS Group has secured a RM555mil contract for a mixed-use development project known as J.Satine in Setapak.

The project comprises 3,600 units of Residensi Wilayah apartments, 661 units of small office or home office (SOHO) and 42 commercial units.

The contract is for a duration of 36 months and is expected to commence in September 2021.

J.Satine is a joint venture between Platinum Victory Group and Jakel Group’s property development arm.

TCS group managing director Datuk Tee Chai Seng said the contract, the fourth secured by the group this year, enhances TCS' outstanding order book to RM1.6bil besides providing the group earnings visibility for the next three financial years.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

TCS , J.Satine , Platinum Victory Group

   

Next In Business News

China’s edtech assault hits investors from Tiger to Temasek
China crackdown makes HK index world’s biggest tech loser
SMEs need new ways to rebuild business in Covid-19 era
UK economy faces US$6.3b hit from 'pingdemic', CEBR says
CPO futures may see technical correction after rally
Ringgit to trade in tight range vs US$
New warning system to sound alarm on rainforest 'tipping points'
FOREX-US$ posts second week of gains ahead of Fed meeting
Oil price edges up in weekly rebound on forecasts for tight supplies
GLOBAL MARKETS-US stock markets hit new highs

Stories You'll Enjoy


Vouchers