Tuju Setia Berhad via it wholly owned subsidiary has accepted the Letter of Award from GLM Emerald Square (Cheras) Sdn Bhd, a subsidiary of GuocoLand (Malaysia) Berhad for the proposed construction and completion of an apartment block in Cheras for RM264million.
The project consists of 1 block of 44 storey and 1 block of 45 storey serviced apartments and an 8 storey carpark podium with related facilities.
The Contract is for a duration of 35 months commencing in December 2022
The contractor does not see the contract having any effect on the share capital and shareholding structure of the company and views the deal not contributing to Tuju Setia and its subsidiary (“Group”)’s earnings and net assets per share for the financial year ending 31 December 2022 but is expected to contribute positively from the financial year ending 31 December 2023 until the completion of the Contract.
