Bintai Kinden bags RM74.5 mil job in Myanmar

KUALA LUMPUR (June 7): Bintai Kinden Corp Bhd has bagged a US$17.5 million (RM74.5 million) deal in Myanmar to undertake air-conditioning and fire protection installation work.

In a filing with Bursa Malaysia, the group said its subsidiary Bintai Kindenko Myanmar Co was awarded the contract by Soilbuild Myanmar Co Ltd on May 28.

The contract is for two developments — Somerset Serviced Apartment and 68 Residence — in Bahan township in Yangon.

“No major risk is foreseeable on the contract except for currency risk and it is a non-renewable construction contract with fixed contract period,” said Bintai Kinden.

The group expects the work to be completed by July 2018.

Bintai Kinden’s shares closed 0.5 sen or 2.38% lower at 20.5 sen yesterday, for a market capitalisation of RM59.36 million. — theedgemarkets.com

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