KUALA LUMPUR: TCS Group Holdings Bhd ’s wholly-owned subsidiary, TCS Construction Sdn Bhd, has secured a RM255.0 million construction contract from Remedy Power Sdn Bhd.

       The project, in Taman Desa, here, involves the foundation and main building works for one office block with commercial space, podium and basement car parks, lobby and amenity floors.

       The contract is for 30 months commencing in April 2022 and is expected for completion in September 2024, TCS said in a filing with Bursa Malaysia.

       "The contract is expected to contribute positively to the future earnings and net assets of TCS for the duration of the contract."

       In a separate statement, TCS managing director Datuk Tee Chai Seng said the RM255.0 million contract increased the group's outstanding order book to approximately RM1.85 billion, 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 added. - Bernama