KUALA LUMPUR: TCS Group Holdings Bhd (TGH) expects the progress of its ongoing construction projects to pick up pace for the rest of this year.
Since listing in July last year, the company have secured six projects worth a total of RM823.78 million.
Outstanding order book for the building and infrastructure construction services provider stands at RM1.07 billion as at 31 March 2021, which gives the company earnings visibility for the next three years.
Managing director Datuk Ir Tee Chai Seng said TGH team is busy working on more tenders to further boost order book, and the company hope to secure some wins this year.
"Granted, there are challenges in the industry, such as the rising steel bar and other building materials costs.
"We are managing the situation at the moment and are proactively implementing strategic initiatives and continuous enhancement of our operational efficiency and procurement process," he said after the company's second annual general meeting here today.
"Moving forward, we will continue growing our building construction activities, expanding our infrastructure construction services, and purchasing machinery and equipment, which are progressing well.
"All in all, despite the demanding business operating landscape, the outlook of the company remains intact underpinned by the abovementioned factors along with the rollout of Covid-19 vaccination," Tee further said.
As for dividend payout, TGH has already paid a total dividend of 2.0 sen per share for the financial year (FY20).
This represented a 44.4 per cent dividend payout based of earnings per share of 4.5 sen.
The board aims to maintain a stable stream of dividends while preserving adequate reserves for future growth.