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- The contract was awarded to the group’s wholly owned subsidiary, Inta Bina Sdn Bhd, by Eco Majestic Development Sdn Bhd.
KUALA LUMPUR (Sept 26): Inta Bina Group Bhd (KL:INTA) has secured a RM40.6 million contract to construct 128 two-storey terrace houses within a gated and guarded development at Beranang in Selangor's Hulu Langat district.
The contract was awarded to the group’s wholly owned subsidiary, Inta Bina Sdn Bhd, by Eco Majestic Development Sdn Bhd, said Inta Bina in a filing with Bursa Malaysia on Friday.
Earlier this month, Inta Bina won another contract worth RM66.52 million from Eco Majestic to build 154 houses in the gated and guarded project in Beranang.
The latest contract, spanning 20 months, is scheduled to commence on Oct 8.
Inta Bina expects the contract to contribute positively to its earnings. Funding will be sourced from internally generated funds and/or external borrowings, the group added.
As at end-June, Inta Bina’s unbilled order book stood at RM1.3 billion from its construction segment, supplemented by RM64.7 million in unbilled property development sales, providing earnings visibility for the next two to three years.
Inta Bina shares slipped half a sen or 1.1% to close at 43 sen on Friday, valuing the group at RM264.3 million.
As Penang girds itself towards the last lap of its Penang2030 vision, check out how the residential segment is keeping pace in EdgeProp’s special report: PENANG Investing Towards 2030.
