KUALA LUMPUR: TCS Group Holdings Bhd's subsidiary TCS Construction Sdn Bhd has secured an award from IOI City Hotel Sdn Bhd for the construction of the main building works of Moxy Hotel for RM108.38mil.
In a filing with Bursa Malaysia, the construction firm said the contract will be completed in 16 months form Sept 1, 2022 to Dec 31, 2023.
"The contract is expected to contribute positively to the future earnings and net assets of TCS for,
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the duration of the contract.
"TCS Group intends to fund the Contract via internally generated funds and/or borrowings," it said.
At 12.30pm, shares in TCS last traded 0.5 sen or 1.85% lower at 26.5 sen a share on the back of 152,600 units traded.