TCS Group Holdings Berhad has secured a RM140.27 million contract from KLK Retail Centre Sdn. Bhd., a wholly-owned subsidiary of Kuala Lumpur Kepong Berhad for main building works for a proposed commercial complex known as Bandar Seri Coalfields Retail Park in Bandar Seri Coalfields, Selangor (“Contract”).
Managing Director of TCS, Dato’ Ir Tee Chai Seng said, “We are certainly delighted to be awarded this RM140.27 million project by KLK, who is a returning client.This Contract enhances our current outstanding order book and strengthens our earnings visibility for the coming financial years. Looking ahead, the Group is positive on the outlook of the construction industry. This is on the back of strategic infrastructure, utilities projects, and the acceleration of projects under the Twelfth Malaysia Plan, 2021-2025.”
“Accordingly, we see opportunities and are bidding for projects in residential and commercial buildings, infrastructure projects, as well as institutional buildings. At the same time, we are also mindful of the demanding business operating landscape particularly the elevated raw material costs situation caused by supply chain disruptions arising from the aftereffects of the pandemic. All in all, we continue to be cautiously optimistic on the long-term prospects of the Group premised on the aforementioned factors,” Dato’ Ir Tee further added.
The duration of the Contract is 19 months, commencing from March 2024 with expected completion by October 2025.
