Tuju Setia Berhad is optimistic of its prospects for the financial year ending 31 December 2022 (FY2022) on accelerated construction
progress from its RM1.4 billion order book, which includes RM944.0 million new wins secured in the financial year ended 31 December 2021 (FY2021).
The construction services company is currently with the balance order book of RM1.4 billion is to pick up the construction progress of ongoing projects that were disrupted during the Movement Control Order (MCO) period. The Group will also make a head start on its Sunway d’hill Residences contract secured in December 2021.
“Our tender book of RM2.4 billion worth of projects, consists mainly of high-rise buildings, hospitals and healthcare facilities, as well as industrial buildings will provide us a rich mix of opportunities to further build our order book and sustain our growth,” said Wee Eng Kong, Managing Director of Tuju Setia Berhad.
The Group reported revenue of RM245.8 million and net profit of RM8.4 million for FY2021. The net profit included one-off listing expenses of RM1.0 million in conjunction with its Initial Public Offering exercise and gain on disposal of right-of-use asset of RM0.6 million. Without these non-recurring items, FY2021 core net profit amounted to RM8.8 million.
Tuju Setia’s 4QFY2021 revenue rose to RM98.5 million from RM42.3 million in the preceding quarter, supported by accelerated construction works for its ongoing projects since October 2021 during the National Recovery Plan. As a result, the group’s 4QFY2021 net profit rebounded to RM3.4 million from RM0.5 million in the preceding quarter.
