Tuju Setia tenders RM2.8b worth of projects

CONSTRUCTION services company Tuju Setia Bhd is tendering for RM2.8 billion worth of projects to build high-rise and industrial buildings, as well as hospitals and healthcare facilities. 

Its MD Wee Eng Kong said despite the higher prices of building materials such as steel and concrete, there are still active tenders for essential buildings such as residential, hospitals and healthcare facilities.

“Our expertise is in constructing high-rises especially in the range of affordable to premium residential and commercial buildings that are located strategically in areas to fulfil strong demand. 

“Our last two recent wins from Sunway reflect this demand,” he said in a statement today.

Tuju Setia’s RM1.5 billion current orderbook includes the recent wins of RM257 million Jernih Residence in Kajang, Selangor, secured on June 20, 2022, and the RM311.7 million Sunway d’hill Residence (Petaling Jaya, Selangor) on Dec 30, 2021.

Other ongoing projects are Mutiara Central Office Suites (Cheras, Kuala Lumpur [KL]), Riana Dutamas-Phase 2 (Segambut, KL), Lakefront Condominiums at Emerald Hills (Cheras), Tuai Residence (Setia Alam, Selangor), The Pulse Residence (Puchong, Selangor), 121 Residence (Petaling Jaya), One Equine (Seri Kembangan, Selangor) and the Kajang Women and Children Hospital, Selangor (picture).

At the AGM, shareholders approved the final dividend of 0.5 sen per share in respect of financial year 2021 (FY21), with ex-date on July 5, 2022, and payment date on July 20, 2022. 

Together with the first interim dividend of 0.5 sen paid on Jan 20, 2022, the total dividend payout in respect of FY21 would amount to RM3.2 million or 39% of FY21 net profit. 

This exceeds Tuju Setia’s dividend policy to distribute 25% of annual net profit.

“Going forward, Tuju Setia will work towards sustaining our business operations and managing our finances prudently during this commodity supercycle period.

“We hope to keep construction activities at peak levels and actively participate in tenders to secure new projects,” Wee concluded. — TMR / pic source tujusetia.my