TCS Group secures residential construction contract in Kuala Langat for RM126mil

KUALA LUMPUR: TCS Group Holdings Bhd's subsidiary, TCS Construction Sdn Bhd, has secured a contract worth RM126 million for a construction project in Kuala Langat, Selangor.

TCS secured the contract from Saujana Permai Development Sdn Bhd for the design, construction and completion of foundation and main building works for a condominium, known as the Arcadia.

The contract has an overall duration of 40 months and commences in January 2022, with expected completion slated to be in May 2025.

TCS managing director Datuk Ir Tee Chai Seng said the latest win is certainly a good booster for the company and a testimony to its capability amidst the challenging environment.

Tee said this new project is the fifth contract that the company clinched in 2021, bringing total contracts secured to RM967.08 million.

"Currently, TCS's outstanding order book stands at RM1.65 billion, including this RM126 million contract, providing the company earnings visibility for the next three financial years," he said.

Meanwhile, Tee said TCS also sees signs that more jobs are being awarded in tandem with the economic recovery.

He said the company's tender book continues to be healthy as its team remains busy working on more tenders.

"TCS is targeting projects such as residential and commercial buildings, infrastructure projects, purpose-built buildings such as private hospitals and schools as well as institutional buildings such as government hospitals.

"All in all, we continue to be cautiously optimistic on the outlook of the company based on our healthy order book coupled with the gradual recovery of the economy," he added.