CEO Morning Brief

TCS Group Bags Contract to Build Sales Gallery in Subang Jaya

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Publish date: Tue, 08 Aug 2023, 08:50 AM
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TheEdge CEO Morning Brief

KUALA LUMPUR (Aug 7): TCS Group Holdings Bhd has secured a contract to build a sales gallery along the Federal Highway in Subang Jaya for a property developer.

The construction group said the contract, worth RM10.7 million, was awarded to its wholly-owned subsidiary TCS Construction Sdn Bhd by Impiana Impresif Sdn Bhd (IISB), a wholly-owned unit of BRDB Developments Sdn Bhd (formerly known as Bandar Raya Developments Bhd).

Construction will commence on Sept 1 and is expected to be completed within eight months, the group said in a bourse filing on Monday (Aug 7).

TCS Group said the contract is in line with its expansion of business and strategy to increase its revenue.

It added that the contract is expected to contribute positively to the group's earnings, net assets and gearing.

Shares in TCS Group closed two sen or 9.09% higher at 24 sen, giving the group a market capitalisation of RM93.6 million.

Source: TheEdge - 8 Aug 2023

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