KUALA LUMPUR: Tuju Setia Bhd
posted a decrease internet revenue of RM421,000 within the first quarter ended March 31 (1Q22), in contrast with RM3.49mil final yr, escalated constructing supplies and labour costs in addition to preliminaries costs.
The development companies firm noticed its income bounce 43.7% to RM85.2mil from RM59.3mil within the earlier yr’s corresponding quarter.
The improved topline was attributed to the build-up in works momentum from the group’s 10 ongoing tasks in 1Q22.
Tuju Setia maintained its focus on supply, and efficiently accomplished the development works for Towers A and B of the Lakefront Condominiums within the Emerald Hills township, Cheras in January 2022.
The challenge contains two blocks of 28-storey towers with elevated and basement automobile parks.
Managing director Wee Eng Kong stated works for Towers C and D of the Lakefront Condominiums in Emerald Hills, alongside its different ongoing tasks are additionally in progress.
“We are mindful of the ongoing challenges being faced by the construction sector, mainly the escalating cost of building materials and labour shortage, and will remain vigilant in managing our financial cashflow to safeguard the business operations.
“Nonetheless, with Malaysia’s transition to endemic phase, economic activity is expected to recover. As such, we expect to benefit from the recovery with a good mix in our tender book,” he stated.
Tuju Setia’s RM1.3bil order ebook as at March 31 contains business and residential high-rise tasks and the Kajang Women and Children Hospital.
