Tuju Setia Bhd announced that its wholly-owned subsidiary Pembinaan Tuju Setia Sdn Bhd (PTS), had accepted the letter of award (LOA) from USJ Citipoint Sdn Bhd, for the proposed construction and completion of the Alora Residences in USJ, Subang Jaya for RM209 million.
In a Bursa filing, the construction services provider said its unit had accepted the LOA from USJ Citipoint, an indirect wholly-owned subsidiary of real estate player Avaland Berhad, formerly known as MCT Bhd today (Jan 12).
Tuju Setia said the contract for service apartment with PTS’s scope consists of 1 level basement, 10 level podium carpark and facilities floor, 1 block of 34 level Service Apartment Tower A, 1 block of 29 level of Service Apartment Tower B, external works, upgrading of major infrastructure works as well as prime cost sum and provisional sum.
The contract is for a duration of 33 months, tentatively scheduled to commence in the second quarter of 2024.
“The is expected to contribute positively to Tuju Setia and its subsidiary’s earnings and net assets per share for the financial year ending 31 December 2024 until the completion of the contract,” the group added.
