Inta Bina bags RM80m contract to build houses in Ijok

• The contract to build 300 units of double-storey houses at the Eco Grandeur township was awarded by Paragon Pinnacle Sdn Bhd, a unit of Eco World Development Bhd.

KUALA LUMPUR (March 16): Inta Bina Group Bhd has secured a RM79.9 million contract to build houses near Bandar Puncak Alam in Ijok, Selangor.

The contract to build 300 units of double-storey houses at the Eco Grandeur township was awarded by Paragon Pinnacle Sdn Bhd, a unit of Eco World Development Bhd.

The construction period is 16 months, commencing from the date of site possession on April 14, said Inta Bina in a Bursa Malaysia filing.

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

Inta Bina posted a net profit of RM1.46 million for the fourth quarter ended Dec 31, 2022, down 36.52% compared with RM2.30 million a year earlier. Quarterly revenue improved 11.36% to RM122.94 million from RM110.40 million, from the construction of residential and commercial properties, offset by rising cost of building raw material and labour.

For the full year, the group's net profit fell 19.44% to RM9.49 million from RM11.78 million in 2021, despite revenue rising 38.78% to RM466.27 million from RM335.98 million.

Inta Bina’s shares closed 0.5 sen or 2.22% lower at 22 sen on Thursday (March 16), giving the group a market capitalisation of RM117.85 million.