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.

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TCS , J.Satine , Platinum Victory Group


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