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PETALING JAYA: Construction services company Tuju Setia Bhd, which will be listed on the Main Market of Bursa Malaysia tomorrow, has received a letter of award to undertake RM189 million worth of main building works for a high-rise project in Seri Kembangan, Selangor.
Tuju Setia announced today that its wholly owned subsidiary, Pembinaan Tuju Setia Sdn Bhd (PTS), will undertake main building construction works under Package 1 of One Equine. This project was awarded by Enso Development Sdn Bhd, a joint-venture company of Beverly Group (Q) Sdn Bhd and Surbana Jurong Capital (Enso Q) Pte Ltd.
The project comprises a 35-storey block of 865 SoHo units and a 33-storey block with 526 units of serviced apartments, related facilities and amenities, as well as a multi-storey podium car park.
The project in Seri Kembangan is in an up-and-coming development belt close to Cyberjaya and Putrajaya.
Tuju Setia managing director Wee Eng Kong said the new contract reflects the positive upturn of Malaysia’s property market, particularly projects that are supported by easy accessibility, innovative concepts and a large catchment population.
With this win, its order book is now at RM1.14 billion, up from RM953.1 million previously.
“In striving to be the builder of choice, we hope to maintain this momentum and continue to secure projects to further fortify our standing in the construction industry,” Wee said.
The duration of the project is 38 months, with construction works scheduled to begin next month. The project is expected to contribute positively towards the earnings of Tuju Setia till the financial year ending Dec 31, 2024.
Apart from One Equine, Tuju Setia’s ongoing projects include Mutiara Central Office Suites (Cheras), Riana Dutamas Phase 2 (Segambut), The Pulse Residence (Bandar Puteri Puchong), PPAM Sofiya Residensi (Desa ParkCity), Emerald Hills Phases 3 and 4 (Cheras), TUAI Residence (Setia Alam), 121 Residences (Petaling Jaya) and the Kajang Women and Children Hospital.
