This article first appeared in The Edge Financial Daily on September 29, 2017 - October 5, 2017

KUALA LUMPUR: Damansara Realty Bhd has secured the renewals of five contracts from Telekom Malaysia Bhd (TM) for integrated facilities management (IFM) services worth RM5 million.

The contracts, which carry a tenure of one year, are for the comprehensive management of civil, mechanical and electrical services for several TM buildings including Menara TM, TM Annexe 1 & 2, Menara Celcom and Wisma TM Taman Desa.

“Our continued wins in new and renewed contracts are a validation of our commitment and effort towards synergising our offerings in our three core areas of IFM, property development and project management consultancy to serve a stronger proposition to our clients,” Damansara Realty chief executive officer Brian Iskandar Zulkarim said in a statement yesterday.

Earlier this week, the group won an IFM project for an estimated RM27.62 million in a joint venture with Kumpulan Perubatan (Johor) Sdn Bhd for a small medical facility at Petroliam Nasional Bhd’s Pengerang refinery in Johor.

“Since the start of our aggressive strategic restructuring plan in late 2016, we have accomplished a commendable turnaround that has been driving our return to profitability, thereby strengthening Damansara Realty’s brand and delivering our shareholders’ expectations,” said Brian.

Damansara Realty’s share price closed 3.5 sen or 5.88% lower at 56 sen, with a market capitalisation of 173.2 million.