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NewsHot Stock TSR Capital jumps 4% on securing RM240m condominium project
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Hot Stock TSR Capital jumps 4% on securing RM240m condominium project
by Cals Wed 17 Feb 2016, 01:25
- Hot Stock
[size=28]TSR Capital jumps 4% on securing RM240m condominium project
By Surin Murugiah / theedgemarkets.com | February 16, 2016 : 9:23 AM MYTKUALA LUMPUR (Feb 16): Shares of TSR Capital Bhd rose 4% in early trade today after its wholly-owned subsidiary TSR Bina Sdn Bhd has secured a contract from Putrajaya Homes Sdn Bhd for the construction of condominiums for total value of RM240 million.
At 9.06am, TSR gained 2 sen to 52 sen with 20,100 shares done.
In a statement yesterday, TSR said the contract entails the construction and completion of two blocks of 19-storey and 18-storey condominiums, two blocks of multilevel carpark blocks, common facilities, drainage and retention pond, piling works and associated infrastructure and landscape works.
The group said the project is for a duration of 36 months, with completion expected by February 2019.
“Barring any unforeseen circumstances, the board of directors of TSR is of the opinion that the project will contribute positively to the earnings of the group for the financial years ending 2016 through 2019,” it said.
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