Inta Bina Winds RM349m Contract for Shah Alam Mixed Development Project

The Malaysian Reserve ·  Apr 10 00:45

Inta Bina Group Bhd has clinched a contract worth RM348.92 million for a mixed development project in Shah Alam, Selangor.

In a stock exchange filing today the company said that its fully-owned subsidiary, Inta Bina Sdn Bhd, received a letter of award from Eco Ardence Sdn Bhd to carry out the primary construction works for the proposed Maya Integrated Development.

The project involves the construction of commercial shop lots, an office tower, podium car park, and facilities deck across two phases.

Under the first phase, which starts on April 15 and lasts 33 months, Inta Bina will build commercial structures and Tower A facilities.

The second phase, also beginning on April 15 but spanning 39 months, encompasses constructing serviced apartments in Tower A and Tower B, along with Tower B facilities.

Financing for the project will be a combination of internally generated funds and external borrowings.

The company expects this contract to make a positive contribution to its earnings over its duration.

Inta Bina's shares closed at 34.5 sen, up by half a sen or 1.47%, resulting in a market capitalization of RM186.51 million.

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