KUALA LUMPUR (Aug 24): Pintaras Jaya Bhd has secured eight piling contracts in Singapore worth a total of RM160 million.

The contracts were clinched through its Singapore-based wholly-owned unit, Pintary Foundations Pte Ltd, according to the group’s filing on Thursday (Aug 24).

The contract periods range from three months to 12 months, starting from April to December 2023.

The piling and foundation player said the contracts are expected to contribute positively to its earnings for the financial ending June 30, 2024 (FY2024).

Pintaras Jaya posted a more than six-fold rise in net profit to RM3.67 million for the third quarter ended March 31, 2023 (3QFY2023), from RM583,000 a year earlier, due to better results recorded by its quoted investments and higher interest income.

Quarterly revenue fell 12.6% to RM75.78 million from RM86.72 million previously, primarily due to lower construction activities as several projects reached near-completion stage.

At market close on Thursday, Pintaras Jaya was three sen or 1.96% lower at RM1.50, valuing the group at RM248.8 million. Year-to-date, the stock has fallen over 26%.