Tuju Setia clinches RM420m construction job from Sunway

• The project, part of the proposed Sunway Cochrane development, comprises two serviced apartment blocks with rooftop facilities, a seven-storey podium with retail floors and a link bridge to the Cochrane MRT Station, according to the company’s bourse filing.

KUALA LUMPUR (Dec 1): Tuju Setia Bhd (KL:TJSETIA) on Monday secured a  construction contract from Sunway Bhd (KL:SUNWAY) worth RM420 million, nearly six times the company’s market capitalisation of RM62.73 million.

The project, part of the proposed Sunway Cochrane development, comprises two serviced apartment blocks with rooftop facilities, a seven-storey podium with retail floors and a link bridge to the Cochrane MRT Station, according to the company’s bourse filing.

Tuju Setia’s shares closed unchanged at 18 sen, valuing the company at RM62.73 million. The counter is down over 30% year to date.

The RM420 million contract spans 40 months, with commencement scheduled for March 1, 2026. The company said the project is expected to contribute positively to its earnings and net assets per share from FY2026 until completion.

Last week, Pembinaan Tuju Setia clinched a RM54 million job to build a five-storey factory in Klang for Syntec Intelligence Technology Sdn Bhd.

As at end-September, Tuju Setia’s unbilled order book stood at RM1.82 billion, providing earnings visibility through FY2028.

For the third quarter ended Sept 30, 2025, Tuju Setia’s net profit rose 16.76% year-on-year to RM1.59 million, as revenue grew 10.9% to RM142.68 million on stronger progress at ongoing projects and better margins from contracts secured in 2024.

For the nine-month period, net profit fell 14.8% year-on-year to RM3.17 million due to the absence of a RM2.94 million gain from the disposal of plant, equipment and right-of-use assets. Revenue edged up 1.03% to RM396.26 million.

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