Financial Wire

Tuju Setia Unit Bags MYR359 Million Construction Contract; Shares Rise 13%

-- Tuju Setia (KLSE:TJSETIA) unit Pembinaan Tuju Setia secured a deal worth 359.3 million ringgit for the construction of the Ara Bloc Residences in Selangor, Malaysia, according to a Wednesday Malaysian bourse filing.

Shares jumped 13% in Thursday's midday trade.

The deal was awarded by Sime Darby Property (Ara Damansara), and the project involves the development of three blocks of 17-storey serviced apartments, along with a nine-storey podium comprising retail units, parking facilities, residence amenities, and utilities at Ara Damansara.

The deal is scheduled to commence on April 21, and has a duration of 40 months, it added.

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