Tuju Setia Bhd has secured an RM389 million contract from Beverly Group to undertake the main contractor works for Milla Residence, a high-rise residential development in Quartz Wangsa Maju, Kuala Lumpur. This new contract raises the Group's order book to a record RM2 billion, doubling from RM866 million as of Dec 31, 2023, and providing earnings visibility until 2028.
The project, awarded to Tuju Setia's subsidiary Pembinaan Tuju Setia Sdn Bhd, involves the construction of two 52-storey tower blocks, a 17-storey automated car park, and common facilities. Construction is set to begin in April 2025 and is expected to be completed within 36 months. Milla Residence will feature ASEAN's largest Automated Car Parking System, reducing idling emissions by 30% and maximising land efficiency.
Tuju Setia's Managing Director, Wee Eng Kong, stated, "Beverly Group's continued trust underscores their confidence in our construction competency, commitment to quality, and timely delivery." He added that the Group is well-positioned for growth in 2025, backed by a robust order book and a track record of excellence.
The Group has achieved significant project wins in 2024, with year-to-date contracts totalling RM1.58 billion from clients such as Sime Darby Property, Sunway Berhad, and Avaland Berhad. Recent completions include The Pulse Residence, Kajang Women & Child Hospital, and Riana Dutamas Phase 2.