Sunday 14 Jul 2024
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KUALA LUMPUR (June 4): Inta Bina Group Bhd (KL:INTA) said on Tuesday that it has secured a RM111.98 million contract from a unit of Gamuda Bhd (KL:GAMUDA) to build semi-detached houses.

The construction group did not mention the location of the project awarded by Gamuda Land (T12) Sdn Bhd, in its exchange filing on Tuesday.

The group said the contract period is for 23 months, and is divided into two phases, with the first phase comprising 124 units of houses and the second phase consisting of 50 units.

“The contract is expected to contribute positively towards the future earnings of Inta Bina for the duration of the contract,” it added.

This marks Inta Bina’s fifth construction project so far this year, with the value of all the contracts totalling RM1.05 billion.

Last week, Inta Bina bagged a RM198.73 million contract to develop a residential apartment project in Ara Damansara, Petaling Jaya, from a wholly owned subsidiary of Sime Darby Property Bhd (KL:SIMEPROP).

In April, the group won three construction jobs, including a RM348.92 million contract for a mixed development project in Shah Alam, followed by a RM169.67 million contract to develop a serviced apartment project in Country Heights and another contract worth RM224.8 million to develop a 38-storey business serviced apartment in Subang Jaya.

Shares in Inta Bina finished unchanged at 42.5 sen on Tuesday, giving the group a market capitalisation of RM228.53 million. The counter has risen 63.46% since the beginning of this year.
 

Edited ByS Kanagaraju
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