Kumpulan Kitacon bags RM65.4m contract to build terrace houses in Selangor

• According to a bourse filing on Tuesday, Kumpulan Kitacon’s wholly-owned unit Kitacon Sdn Bhd received the letter of award from Worldwide Holdings Bhd.

KUALA LUMPUR (Feb 13): Kumpulan Kitacon Bhd has secured a contract to build 182 terrace houses in the Selangor Cyber Valley for RM65.43 million.

According to a bourse filing on Tuesday, Kumpulan Kitacon’s wholly-owned unit Kitacon Sdn Bhd received the letter of award from Worldwide Holdings Bhd.

The contract entails main building works of 182 units of two-storey terrace houses and a Tenaga Nasional Bhd substation for a sum of RM65.43 million.

“The contract shall commence on Feb 19, 2024, and is to be completed within 18 months from the commencement date,” Kumpulan Kitacon said.

The company added that the job is expected to contribute positively to its earnings for the financial years ending Dec 31, 2024 (FY2024) and onwards until the contract's expiry.

Shares in Kumpulan Kitacon last traded at 60 sen on Feb 8, valuing the company at RM300 million.

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