Thursday 28 Mar 2024
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KUALA LUMPUR (Dec 9): Tuju Setia Bhd has secured a RM264 million contract from a unit of GuocoLand (Malaysia) Bhd to build serviced apartments in Cheras, Selangor.

In a Bursa Malaysia filing on Friday (Dec 9), Tuju Setia said its wholly owned subsidiary Pembinaan Tuju Setia Sdn Bhd has accepted a letter of award from GuocoLand's subsidiary GLM Emerald Square (Cheras) Sdn Bhd to build one 44-storey and one 45-storey serviced apartment blocks as well as an eight-storey car park podium and related facilities.

The contract, which is for a duration of 35 months commencing this month, is expected to contribute positively from the financial year ending Dec 31, 2023 until the completion of the contract.

Tuju Setia's shares closed half a sen or 2.27% higher at 22.5 sen on Friday, valuing the group at RM71.3 million.

Edited ByKang Siew Li
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