Inta Bina bags RM497m construction works from EcoWorld

KUALA LUMPUR (Sept 30): Inta Bina Group Bhd has bagged contracts worth a total of RM496.59 million from Eco World Development Group Bhd's (EcoWorld) subsidiaries to undertake the building works for the latter's property developments.

According to a filing with Bursa Malaysia, Inta Bina's wholly-owned subsidiary Inta Bina Sdn Bhd accepted the letters of award today. The main building works consist of the design and build for property developments in Kuala Langat and Shah Alam by Eco Sanctuary Sdn Bhd and Eco Ardence Sdn Bhd, respectively.

Inta Bina said it intends to fund the contracts via internally generated funds and/or external borrowings.

Barring any unforeseen circumstances, the contracts are expected to contribute positively to its future earnings.

Shares in Inta Bina gained 0.5 sen or 1.43% at 35.5 sen, giving it a market capitalisation of RM190.02 million. Some 3.83 million shares were traded.

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