news

Inta Bina bags RM108.49m contract for Mont’Kiara affordable housing project

KUALA LUMPUR (April 9): Inta Bina Group Bhd has bagged a contract worth RM108.49 million to build a 40-storey affordable housing complex in the expatriate enclave of Mont’Kiara, Kuala Lumpur.

According to a bourse filing, the group’s wholly-owned subsidiary Inta Bina Sdn Bhd had received the letter of award from Lembah Suria Sdn Bhd on April 2, appointing the company as the contractor of the project.

The contract period is 32 months, starting upon the site possesion on April 15.

The development will comprise one 40-storey block with 719 units of affordable housing, eight floors of podium car parks, one floor of basement-level car parks, and one facility floor at level eight.

The project is located on Lot 57500, Mukim Batu, Jalan Sungai Teba, Segambut, Mont’ Kiara, Kuala Lumpur.

The group said it does expect any other risk other than operational risks from the project and it is expected to contribute positively to the group’s earnings.

“IBSB intends to fund the Contract via internally-generated funds and or external borrowings,” the group added.

The counter closed 3.57% or a sen higher to 29 sen today with 1.5 million shares being traded, giving the group a market capitalisation of RM149.87 million.  — theedgemarkets.com

Click here for more property stories.

SHARE
RELATED POSTS
  1. Zeti: Market needs more affordable housing
  2. PLB collaborates with China Railway, SRA builders in affordable housing segment
  3. A hidden gem in Mont’Kiara