KUALA LUMPUR: Tafi Industries Bhd
's wholly owned subsidiary TAFI Home & Office Sdn Bhd has secured a RM205mil turnkey construction contract from the main contractor, Metbuild Sdn Bhd, for a small office home office (Soho) project in Subang Jaya, Selangor.
In a statement, the construction group said the project included the design and build Works for supply, delivery, construction and completion of building, mechanical and electrical works and main infrastructure works in respect to 941 units of Sohos and related facilities.
Meanwhile, the developer of the project, Pinnacle Homes SJ CBD Sdn Bhd, has appointed another wholly owned subsidiary of TAFI, TA Furniture & Projects Sdn Bhd, as the project management consultant.
According to TAFI, both contracts shall be for a period of 34 months from the respective dates of commencement.
TAFI group CEO Datuk Sri Bryan Wong said securing the contract from Metbuild will contribute positively towards TAFI’s earnings and net tangible assets (NTA) from the financial year ending Dec 31, 2023, to Dec 31, 2025, based on the assumption that work on the Contract will commence in financial year ending Dec 31, 2023.
“TAFI Group’s wholly owned subsidiaries, Tafi Home & Office and TA Furniture & Projects, which are holders of G7 licence issued by the Construction Industry Development Board (CIDB) that allows it to tender for construction projects of unlimited value, will continue working towards growing its revenue stream from construction contracts by tendering and securing more construction contracts from both the private sector and government sector,” he added.
