Damansara Realty bags RM5m contract renewals from TM

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KUALA LUMPUR (Sept 28): Damansara Realty Bhd has secured the renewal of five contracts from Telekom Malaysia Bhd 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 today.

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 in Petronas' 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.

At 3.55pm, Damansara Realty shares were down 3 sen or 5.04% at 56.5 sen, giving a market capitalisation of RM174.8 million.