KUALA LUMPUR: TCS Group Holdings Bhd has secured a RM255mil contract in Taman Desa here for the foundation and main building works for phase one of a mixed commercial development that will include a 25-level block.

       In a filing with Bursa, TCS Group said its wholly-owned subsidiary, TCS Construction Sdn Bhd had on March 1, accepted a letter of award from construction services provider Remedy Power Sdn Bhd for the job.

       The duration shall be 30 months, starting from next month and the project is expected to be completed in September 2024.

       The group intends to fund the contract via internally generated funds or borrowings.

       In a separate statement, TCS Group managing director Datuk Tee Chai Seng said the contract would increase its outstanding order book to RM1.85bil, giving it healthy earnings visibility for the next three years.

       “Moving forward, our priority remains focused on ensuring the smooth execution and on-time delivery of all our existing projects.

       “We note that ongoing challenges such as supply chain disruptions, rising raw material prices and labour shortage may continue to affect the overall construction industry,” he said.