TCS Construction Secures RM555 Million Contract For Mixed-Use Development In Setapak

Building and infrastructure construction services provider, TCS Group Holdings Berhad’s wholly-owned subsidiary, TCS Construction Sdn. Bhd. has secured a RM555.0 million contract from Jayyid Land Sdn. Bhd. for the main building works for a mixed-use development comprising 3,600 units of Residensi Wilayah apartments, 661 units small office/home office, and 42 commercial units in Setapak, Kuala Lumpur known as J.Satine.

The J.Satine project is a joint venture between Platinum Victory Group and Jakel Group’s property development arm. Platinum Victory Group, a returning customer of our Group, has an established track record in undertaking property development in the Klang Valley region.

Managing Director of TCS, Dato’ Ir Tee Chai Seng said, “We are very delighted to have clinched our single-largest contract. This RM555.0 million contract is the fourth project we secured in 2021, which enhances our outstanding order book to approximately RM1.6 billion and provides us earnings visibility for the next 3 financial years.

“At the same time, we will continue to place utmost emphasis on ensuring best quality, safety and health environment, cost efficiency and timely completion for all our projects. To this end, we take pride that the Group has achieved a high QLASSIC score of 84% (Quality Assessment System in Construction) and SHASSIC score of 97% (Safety and Health Assessment System in Construction) in two of our projects respectively, which are the highest scores ever achieved by our Group and our customers for QLASSIC and SHASSIC respectively.”

“The Group is cognizant of the challenges in the industry and we are managing the situation by proactively implementing strategic initiatives and continuously enhancing our operational efficiency and procurement process. Looking ahead, notwithstanding the exacting operating landscape, our prospects remain intact premised upon our improved order book and the accelerated mass rollout of Covid-19 vaccination in Malaysia.” Dato’ Ir Tee further added.

J.Satine is located in Setapak, Kuala Lumpur. The Contract is for a duration of 36 months and is expected to commence in September 2021.

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