PETALING JAYA: Construction services company Tuju Setia Bhd reported net profit of RM3.49 million on a revenue of RM59.29 million in its first quarter.
PETALING JAYA: Construction services company Tuju Setia Bhd has obtained two letters of award (LOA) from Enso Development Sdn Bhd to undertake Package.
The construction company is slated to be listed on the Main Market on May 19.
Managing director Wee Eng Kong said RM32 million of the proceeds will be allocated for capital expenditure to purchase new construction machinery and equipment, and Building Information Modelling (BIM) system software to upskill its design and construction activities.
Tuju Setia is also planning to acquire land and construct new storage facilities for its machinery and equipment and improve the efficiency of maintenance works.
Speaking to reporters at the launch of its prospectus today, Wee said a further RM19 million will be set aside for working capital and RM5 million to defray listing expenses.
KUALA LUMPUR (March 17): Electrical and mechanical engineering services provider Kejuruteraan Asastera Bhd (KAB) has bagged two electrical engineering contracts worth RM14.7 million.
According to a statement to Bursa Malaysia today, it has received two letters of acceptance (LOAs) from Binastra Ablebuild Sdn Bhd and Pembinaan Tuju Setia Sdn Bhd for supplying, delivering, installing, testing and commissioning of electrical services. Pursuant to the LOA received from Binastra Ablebuild, KAB is required to provide the electrical services for the 46-level serviced apartment, Trion2, which is developed by Binastra Land Sdn Bhd, situated off Jalan Chan Sow Lin in Kuala Lumpur. This contract is expected to be completed by Aug 31, 2023.