KUALA LUMPUR (Dec 23): Tuju Setia Bhd (KL:TJSETIA) has secured a contract worth RM389 million to build serviced apartments in Wangsa Maju, Setapak.

The contract involves construction of two blocks of 52-storey serviced apartments with 17 levels of automated car park, with rooftop facilities and common facilities at ground floor under the Milla Residence, the company said in a statement.

Works will start in April 2025 and be completed within 36 months, Tuju Setia said.

The job was awarded to Tuju Setia’s wholly owned Pembinaan Tuju Setia Sdn Bhd by Beverly WM Sdn Bhd. Milla Residence is a joint effort between Beverly, Mapletree Investments Pte Ltd of Singapore, and Lai Sun Group of Hong Kong.

With the latest win, Tuju Setia’s order book has increased to RM2.08 billion, keeping the company busy until 2028.

For 2025, “we are well positioned for turnaround growth, backed by our robust order book and ready capacity to take on more projects,” said Wee Eng Kong, the managing director of Tuju Setia.

“We anticipate 2025 to be a year of further progress, and are confident in achieving more significant milestones both in terms of financials and operations,” he added.

At Monday’s midday closing, shares of Tuju Setia were down half a sen or 2.2% at 22 sen, giving it a market capitalisation of RM76.67 million. Year to date, the stock has gained 4.8%.