Friday 21 Jun 2024
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KUALA LUMPUR (May 20): Construction services firm Tuju Setia Bhd has secured two contracts worth RM119.78 million for the construction of a commercial development project in Seri Kembangan.

The contracts, awarded by Enso Development Sdn Bhd, are for the construction of the second and third packages of a commercial development project in Taman Equine, Bandar Seri Putra Permai, the group said in a bourse filing.

Tuju Setia said Package 2 consists of a 34-storey serviced apartments and 35-storey small office-home-office while Package 3 consists of two-storey shop-offices.

The two packages are within the same site as Package 1, which the group announced on Tuesday (May 18).

Tuju Setia said construction is scheduled to commence in June and is expected to take 38 months to complete.

“The contract will not contribute to Tuju Setia and its subsidiary’s earnings and net assets per share for the financial year ending Dec 31, 2021 but is expected to contribute positively upon the commencement of the works,” said the group.

Tuju Setia’s shares last traded at 74 sen, giving the group a market value of RM234.45 million.

Edited ByS Kanagaraju
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