KUALA LUMPUR: TCS Group Holdings Bhd's wholly-owned subsidiary, TCS Construction Sdn Bhd, has accepted a letter of award (LOA) from Saujana Permai Development Sdn Bhd for the development of serviced apartments worth RM130 million.
In a filing to Bursa Malaysia today, the company said the contract entails the main building works and related external works for 630 units of serviced apartments known as Arcadia Residences located in Kuala Langat, Selangor.
The overall construction period of the works is 36 months from the date of commencement and the completion date of the works is slated on July 30, 2027.
"The acceptance of LOA is in line with the company's expansion of business and strategy to increase the company's revenue.
"The group views that the acceptance of LOA will enhance the current outstanding order book and strengthen its earnings visibility for the coming financial years," it said.