TXCD Bhd, a construction and property development company previously known as Ageson Bhd, has announced that it has secured two construction subcontracts in Kuala Lumpur with a combined value of RM119.14 million. The contracts were awarded by Vestland Resources Sdn Bhd, a subsidiary of Vestland Bhd.
The projects will be undertaken by TXCD’s unit, Ageson Kensetsu Sdn Bhd, and involve structural, architectural and external works at two separate development sites.
One subcontract, valued at RM63.79 million, covers structural and architectural works for a project located along Lorong Raja Uda 2. The second contract, worth RM55.35 million, involves structural and external works for a development along Jalan Ampang, an established commercial corridor in Kuala Lumpur.
Both projects commenced in February 2026 and are scheduled for completion in July 2027.
The total contract value exceeds TXCD’s current market capitalisation, making the awards particularly notable as the company works toward strengthening its financial position. TXCD was classified as a Practice Note 17 (PN17) company in late 2023 after auditors raised concerns regarding its financial condition and certain transactions.
At the latest market close, TXCD shares traded at 10 sen, giving the company a market value of approximately RM57.9 million.
Vestland Bhd, which focuses largely on construction—especially residential projects—recently closed at 46 sen, translating to a market capitalisation of over RM430 million. The company was listed in early 2023.
Projects in areas such as Jalan Ampang continue to highlight sustained development activity within the commercial property in KL segment, where office towers, mixed-use projects and supporting infrastructure remain in demand.
Construction contracts of this scale also reflect the broader ecosystem supporting property development across the Klang Valley. As new residential and commercial projects are delivered, demand often rises for supporting business premises, including office space in Bukit Jalil, as well as logistics and production facilities such as factories in Puchong and industrial property in the Subang area.
In parallel, developers and investors continue to monitor opportunities in industrial land in Selangor, where infrastructure connectivity, proximity to urban markets and access to major highways make the region attractive for manufacturing, warehousing and distribution operations.
While TXCD continues to navigate its PN17 status, the newly secured contracts represent a meaningful addition to its order book and signal ongoing construction momentum in Kuala Lumpur’s property sector.
Malaysia