KUALA LUMPUR: TCS Group Holdings Bhd
has secured a RM116.58mil construction contract for the proposed building and related infrastructure works for 561 units of affordable housing for the Setia Bayuemas project.
In a filing with Bursa Malaysia, TCS said its wholly-owned subsidiary, TCS Construction Sdn Bhd (TCSCSB) secured the contract from I&P Kota Bayuemas Sdn Bhd, a subsidiary of S P Setia Bhd.
Setia Bayuemas is a 545-acre freehold mixed development located in Klang, Selangor.
The contract is for 28 months, commencing from October 2024 with expected completion by February 2027.
“With this contract win, it further boosts our order book and gives us clear earnings visibility. The overall outlook of the construction sector is currently more favourable as the raw material prices of goods have stabilised.
“In addition, the project rollout from the public and private sectors is increasing, which bodes well for the construction industry, including TCS. We look forward to sharing more exciting updates to our shareholders in the coming months,” managing director Datuk Ir Tee Chai Seng said in a separate statement.
