The building and infrastructure construction services provider announced that its wholly-owned subsidiary, TCS Construction has secured a RM108.38 million contract from IOI City Hotel, an indirect wholly-owned subsidiary of IOI Properties Group for the construction and completion of one block of 19-storey main building works from ground floor to roof of a hotel named the Moxy Putrajaya hotel.
The Moxy Putrajaya hotel is located within the integrated township of IOI Resort City Putrajaya, will be directly linked to the IOI City Mall and managed by Marriott International Inc.
The duration of the contract is 16 months, commencing 1 September 2022 with expected completion by 31 December 2023.
“We sincerely appreciate the trust placed upon us by IOI Properties Group through the award of this RM108.38 million Moxy Hotel project. Given our experience and long track record in building construction, we are confident we will deliver the job within the stipulated timeframe. Meanwhile, for TCS, the Contract will boost our order book and enhance our earnings visibility,” Managing Director of TCS, Dato’ Ir Tee Chai Seng said.
“Looking ahead, we remain prudent against the backdrop of a challenging operating environment in the construction sector. We are proactively managing the challenges faced by prioritising on quality execution and timely delivery of our projects.” he added.
“On a brighter note, there are indications that the supply chain issue is improving. In addition, the construction sector is set to revive with the Government’s continuation of mega projectssuch as the Mass Rapid Transit Line 3 (MRT3) and Pan Borneo Highway,” he stressed.
“These mega projects act as a catalyst to attract residential and commercial attention and are expected to stimulate the property market. Therefore, we remain focus to bid for projects in residential and commercial buildings, infrastructure projects, as well as institutional buildings to leverage on the rising momentum of the construction sector. All in all, we are poised to navigate ahead riding along the economic upswing, backed by our strong order book.” Dato’ Ir Tee further concluded.
