KUALA LUMPUR: TCS Group Holdings Bhd's subsidiary, TCS Construction Sdn Bhd (TCSCSB), has bagged a RM225.0 million construction project in Taman Desa, Kuala Lumpur from Remedy Power Sdn Bhd (RPSB).
The project includes foundation, and main building works for one office block with commercial space, podium and basement carparks, lobby and amenity floors.
The contract is 30 months and will commence in April 2022, with expected completion slated in September 2024.
Managing director Datuk Tee Chai Seng said this contract is the first for this year, especially against a demanding landscape.
Tee said this is also an encouraging sign that more jobs are awarded economic recovery.
"The RM255.0 million contract brings our outstanding order book to approximately RM1.85 billion, giving us healthy earnings visibility for the next three years," he said in a statement.
Moving forward, Tee said TCS priority remains focused on ensuring the smooth execution and on-time delivery of all existing projects.
He said the ongoing challenges such as supply chain disruptions, rising raw material prices and labour shortage might affect the overall construction industry.
"At TCS, we have been proactively addressing these issues, and the situation is manageable.
"On a brighter note, there are indications that prices of certain materials are stabilising as the supply chain makes gradual progress towards normalisation.
"This is certainly a welcome respite that helps ease the cost pressure," he said.
On balance, Tee said the company is mindful of the ongoing challenges but remains cautiously optimistic of the outlook in 2022.
"With prudent management, we are confident to forge ahead and achieve better performance in 2022 against the backdrop of an economic upswing," he added.