Inta Bina bags RM97.8m job to build apartments

KUALA LUMPUR (April 17): Inta Bina Group Bhd has bagged a RM97.8 million contract to build two apartment blocks and a basement carpark in Damansara Damai, Selangor.

In a filing with Bursa Malaysia today, Inta Bina said its wholly-owned subsidiary Inta Bina Sdn Bhd (IBSB) has accepted a letter of award from Medan Prestasi Sdn Bhd for the appointment of IBSB as main contractor for the proposed construction of a 21-storey block housing 260 apartment units, another 21-storey block of 260 apartment units and one basement carpark.

The contract is for a period of 23 months.

"Barring any unforeseen circumstances, the contract is expected to contribute positively towards the group's future earnings for the duration of the contract," said Inta Bina.

The group intends to fund the contract via internal funds and/or external borrowings.

Inta Bina shares closed up one sen or 3.03% at 34 sen today, with 217,400 shares done, bringing it a market capitalisation of RM181.98 million. — theedgemarkets.com

For more stories, download EdgeProp.my pullout here for free.