TAFI said its wholly-owned subsidiary, TAFI Home and Office Sdn Bhd, had secured the contract to undertake the construction and development of 941 small office-home office units in Subang Jaya, Selangor.
PETALING JAYA: Tafi Industries Bhd
has secured a turnkey construction contract worth RM205mil from Metbuild Sdn Bhd.
In a filing with Bursa Malaysia yesterday, TAFI said its wholly-owned subsidiary, TAFI Home and Office Sdn Bhd, had secured the contract to undertake the construction and development of 941 small office-home office units in Subang Jaya, Selangor.
TAFI is principally involved in the manufacturing and trading of furniture for export and local markets. It has also diversified into property development and construction-related businesses.
Additionally, TAFI said its wholly-owned subsidiary T.A. Furniture and Projects Sdn Bhd has been appointed the project management consultant to ensure a smooth implementation of the project.
TAFI said this would include (but not limited to) the planning, monitoring, promotion, sales, marketing, administration and all other works that are required to complete the project.
“The contract period as set out in the letters of award shall be 34 months from the date of commencement, to be notified by the main contractor and developer in writing at a later stage, which is expected to be in the financial year ending Dec 31, 2023 (FY23).”
In a statement, TAFI group chief executive officer Datuk Seri Bryan Wong said the contract will contribute positively towards TAFI’s earnings and net tangible assets from FY23 to FY25, based on the assumption that work on the contract will commence in FY23.
He added that TAFI’s earlier RM23.64mil contract from Lambaian Delta Sdn Bhd will contribute positively towards TAFI’s earnings in FY23.
“The RM115mil turnkey construction contract secured from Magna Prima Bhd’s indirect subsidiary, Magna Park Sdn Bhd, on Sept 7, 2022 for the overall development and construction of Metro Kepong Phase 2D serviced apartments will further enhance TAFI’s earnings from FY23 to FY25.”
