The first quarter of 2022 has finished with some big development announcements. While some companies are selling their assets to be more productive, others are winning big contracts that will add to the infrastructure and sustainability of Malaysia.
Here we have highlighted 3 such contracts and developments underway in March 2022:
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RM255 million mixed-use development project
On 2 March 2022, TCS Construction Sdn Bhd, a wholly-owned subsidiary of TCS Group Holding Bhd, won an RM255 million contract from Remedy Power Sdn Bhd. TCS will pertain to Phase 1 of the development project in Taman Desa, Kuala Lumpur.
They are tasked to build the foundation and main building of the project, including:
- A 25 storey office space
- Podium parking
- 9 storey underground parking
- Ground floor lobby
- Miscellaneous facilities
TCS disclosed that the fund for the construction would be acquired internally or by borrowings. As for the completion date, the construction work is already in progress since April 2022. Therefore, TCS expects the entire Phase 1 to be completed within 30 months, the approximate due date being sometime in September 2024.
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TAFI Industries sells their factory for RM9 million
More commonly known as TAFI, T.A. Furniture Industries sold their single-storey detached factory in Muar, Johor. In a statement on 10 March 2022, the furniture maker stated that they sold the factory for RM9 million and expected to gain RM5.71 million before tax following the disposal.
TAFI Group’s said their decision to sell the factory was a strategic move to increase the efficiency of their business operation. They believe purchasing laminated boards or subcontracting the lamination process would be more cost-efficient for them in the long run. On the other hand, the sold factory can now be used for logistic facilities or other fruitful operations that better suit the post-pandemic era.
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Solarvest awarded 3 photovoltaic plant construction in Perak for RM154.4 million
Solarvest Holdings Bhd obtained 3 contracts worth a combined budget of RM154.4 million. The project involves engineering, procurement, construction and commissioning (EPCC) of large scale photovoltaic plants in Perak under the large scale solar 4 (LSS4) scheme.
Taiping Solar Sdn Bhd awarded the projects to Solarvest through their special purpose vehicles, Teja 1, Teja 2 and Kellie Energy. The filing showed the projects are undertaken by Solarvest’s wholly-owned subsidiary, Atlantic Blue Sdn Bhd.
The first project awarded to Solarvest is in Kampar. The plant will have a capacity of 15 MW, valued at RM54.4 million. The project is already underway and is expected to be commercially operational by 14 December 2022.
Valued at RM42.8 million, the second project is also located in Kamparbut with a slightly lower capacity of 10MW. It will take over a year to be a commercial operation with the expected due date being 14 June 2023.
The third project taken by Solarvest will have a capacity of 15MW, similar to the first project. However, the location for this plant is in Kinta, unlike the other two. Valued at RM57.2 million, this project has the highest budget and is expected to be ready for commercial operation by 14 December 2022.
It seems like 2022 will be a busy year with all the ongoing contracts and developments coming in. Which one, in particular, do you find interesting?
If you know of any other exciting developments in Malaysia, write to us.
And for daily happenings and news updates, keep tuned to the Guyub news portal.
