Inta Bina bags RM57.7m contract to construct Eco Ardence houses

KUALA LUMPUR (May 2): Inta Bina Group Bhd's wholly-owned subsidiary Inta Bina Sdn Bhd (IBSB) has been appointed as the main contractor for a residential development in Shah Alam for RM57.7 million.

IBSB had accepted the letter of award from ONG&ONG 360 Consultancy Sdn Bhd to construct 104 semi-detached homes, one community centre and one guard house for Eco Ardence Sdn Bhd, Inta Bina said in a filing with Bursa Malaysia today.

"The scope of works includes but is not limited to superstructure, architectural, mechanical and electrical works," the group said, adding the contract spans an 18-month period commencing from the date of site possession on April 30, 2018.

Eco Ardence is a RM8.58 billion township owned by Eco World Development Group Bhd and its joint venture partner Cascara Sdn Bhd.

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

Last Friday (April 27), the company announced that it was seeking to transfer to the Main Market of the stock exchange after having been listed on the ACE market for less than a year.

Shares in Inta Bina closed up 0.5 sen or 1.49% today at 34 sen each, giving the group a market capitalisation of RM181.99 million. — theedgemarkets.com

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