Kumpulan Kitacon secures LOA worth RM135 mil for building works in Ijok

Kitacon said the 22-month contract will commence on April 18 this year.

KUALA LUMPUR (April 15): Kumpulan Kitacon Bhd has secured a letter of award (LOA) of main building works for a contract worth RM134.8 million in Ijok, Selangor.

In a bourse filing on Monday, Kitacon said its unit Kitacon Sdn Bhd has accepted the LOA from Tropicana Alam Sdn Bhd for the proposed construction and completion of Phase 1 (Avisa) of the works.

Phase 1 (Avisa) comprises the following works:

i) 399 units of double storey terrace houses (20’ x 70’);

ii) 32 units of double storey terrace houses (22’ x 70’); and

iii) Three units of TNB substations (double chamber) on part of Lot 33962 (Plot C), Persiaran Puncak Alam 6, 42300 Bandar Puncak Alam, Mukim Ijok, Daerah Kuala Selangor, Selangor Darul Ehsan.

Kitacon said the 22-month contract will commence on April 18 this year.

The company said the contract is expected to contribute positively to its earnings for the financial years ending Dec 31, 2024 onwards, until the expiry of the contract.

At midday break on Monday, Kitacon added 0.74% or 0.5 sen to its share price to 68.5 sen, with 26,800 shares traded.

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