Vestland Berhad’s wholly-owned subsidiary successfully bagged a RM170.0 million Design & Build contract, increasing the total outstanding order book value to approximately RM1.7 billion

• Total contract value of RM170.0 million awarded to Vestland Resources Sdn Bhd by Tafi Home and Office Sdn Bhd
• Total job wins of RM552.6 million in 2023 to-date.
• Total outstanding order book value of approximately RM1.7 billion.

Shah Alam, Tuesday, 30th May 2023 – Vestland Berhad (“Vestland” or “the Group”) is pleased to announce that Vestland’s wholly-owned subsidiary, Vestland Resources Sdn Bhd has been awarded a design and build contract from Tafi Home & Office Sdn Bhd, a recurring customer of Vestland, worth RM170.0 million.

The contract relates to a Design and Build project for SOHO and retail units. The project is situated in Bandar Subang Jaya, Petaling, Selangor and the construction work shall be completed in 34 months.

In year 2023 to-date, Vestland has successfully bagged a total of RM552.6 million worth of contracts. Including the recent job win, Vestland has a total outstanding order book value of approximately RM1.7 billion.

“The new contract awarded from Tafi Home and Office Sdn Bhd signifies their trust in us as a result of our high-quality construction services provided to them,” stated Datuk Liew Foo Heen, Group Managing Director of Vestland. “The award of this new contract further strengthens our outstanding order book to RM1.7 billion and adds on to our year-to-date successful job wins of RM552.6 million, providing a strong earnings visibility to the Group in the next 4-5 years to come. Furthermore, this also illustrates our Group’s commitment and ongoing diligence to deliver sustainable earnings to all our valued shareholders.”