Taghill clinches RM152 mil mixed-development project in Pahang

• The project includes four business blocks, one serviced apartment block, and a six-level podium parking structure with residential facilities.

KUALA LUMPUR (Jan 24): Taghill Holdings Bhd (KL:TAGHILL), formerly known as Siab Holdings Bhd, has secured a RM152 million construction job in Kuantan, Pahang.

Its wholly owned subsidiary, Taghill Projects Sdn Bhd (TPSB), accepted the letter of award (LOA) from Kuantan Waterfront Resort City Sdn Bhd (KWR) for the proposed development of a commercial strata scheme.

The project includes four business blocks, one serviced apartment block, and a six-level podium parking structure with residential facilities.

The construction is expected to span 28 months, commencing on Feb 4, 2025, and targeting completion by June 3, 2027, subject to any extensions allowed under the contract, according to the company’s filing with Bursa Malaysia.

Under the agreement, TPSB is required to provide a performance bond in the form of a banker’s guarantee, director’s guarantee, or corporate guarantee approved by KWR.

The bond, equivalent to 5% of the contract value — amounting to RM7.6 million — must be submitted within 30 days of accepting the LOA.

“The performance bond shall be in force until the Certificate of Practical Completion of the project is issued, with an additional three months thereafter,” said Taghill.

It is worth noting that this is the second contract secured by Taghill this week, following a RM58 million deal for construction work on an 18-storey commercial complex in Ipoh, Perak.

Shares of Taghill, which has fallen over 4% year-to-date, closed unchanged at 11.5 sen on Friday. This gives the company a market capitalisation of RM179 million.

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