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Bintai Kinden bags RM32.4 mil contract from Singapore govt

KUALA LUMPUR (June 28): Bintai Kinden Corp Bhd's 69.82%-owned subsidiary in Singapore has won a S$10.4 million (RM32.4 million) government contract to provide integrated facilities management services.

In a filing with Bursa Malaysia today, Bintai Kinden said Bintai Kindenko Pte Ltd will undertake the job, which includes mechanical and engineering work, at the National Development Ministry's offices in Jem Office Tower.

"No major risk is foreseeable on the contract which will be running for a base period of 36 months commencing August 2017 with an option to extend for a further period of up to 24 months thereafter," it said.

Bintai Kanden said the contract is not expected to have any material impact on the group's earnings, earnings per share, net assets per share and gearing for the financial year ending March 31, 2018.

However, the contract is expected to contribute positively towards the group's future earnings, it added.

Bintai Kinden's share price closed down half sen or 2.38% to 20.5 sen for a market capitalisation of RM57.5 million. — theedgemarkets.com

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