KUALA LUMPUR, Inta Bina Group Bhd has secured a RM264.5 million contract to construct two serviced apartment blocks in Segambut, Kuala Lumpur.
The company’s wholly owned subsidiary, Inta Bina Sdn Bhd, accepted the contract on Monday from GDP Architects Sdn Bhd, acting on behalf of 368 Segambut Sdn Bhd — a joint venture between IJM Land Bhd and FCW Holdings Bhd.
The 38-month project is set to begin on August 18, according to a filing with the stock exchange. Inta Bina said the development will be financed through internally generated funds and external borrowings, and is expected to positively contribute to the group’s earnings during the contract period.
As of end-March, Inta Bina’s construction segment had an unbilled order book valued at RM1.5 billion, while its property development segment held unbilled sales of RM90 million, providing earnings visibility for the next two to three years.
The group reported cash and short-term deposits of RM117.64 million, compared to RM133.33 million in short-term borrowings and RM23.65 million in long-term borrowings. On Monday, Inta Bina’s shares closed 0.5 sen higher, or up 1.18%, at 43 sen, valuing the group at RM258.83 million.
