by S BIRRUNTHA / Pic courtesy of TCS
TCS Group Holdings Bhd’s wholly owned subsidiary, TCS Construction Sdn Bhd, has secured an RM108.38 million contract from IOI City Hotel Sdn Bhd.
The construction services group said the contract is for the construction and completion of one block of 19-storey main building works from the ground floor to the roof of the Moxy Putrajaya Hotel.
According to the group, the duration of the contract is 16 months, commencing Sept 1, 2022, with expected completion by Dec 31, 2023.
Located within the integrated township of IOI Resort City, Putrajaya, the Moxy Putrajaya Hotel will be directly linked to the IOI City Mall and managed by Marriott International Inc.
MD Datuk Tee Chai Seng said the contract would boost the group’s orderbook and enhance its earnings visibility.
“We sincerely appreciate the trust placed upon us by IOI Properties Group Bhd through the award of this RM108.38 million Moxy Hotel project.
“Given our experience and long track record in building construction, we are confident we will deliver the job within the stipulated time frame,” he said in a statement today.
Tee added that looking ahead, the group remains prudent against the backdrop of a challenging operating environment in the construction sector.
He noted that TCS is proactively managing the challenges faced by prioritising quality execution and timely delivery of its projects.
“On a brighter note, there are indications that the supply chain issue is improving.
“In addition, the construction sector is set to revive with the government’s continuation of mega projects such as the Mass Rapid Transit Line 3 in the Klang Valley and Pan Borneo Highway in Sabah,” he said.
Tee highlighted that these mega projects act as a catalyst to attract residential and commercial attention and are expected to stimulate the property market.
Therefore, he said the group remains focused to bid for projects in residential and commercial buildings, infrastructure projects, as well as institutional buildings to leverage the rising momentum of the construction sector.
“All in all, we are poised to navigate ahead, riding along the economic upswing, backed by our strong orderbook,” he added.