Bintai Kinden accepts RM50.48mil contracts from Tenaga

The 20-year contract secured by its unit Metro Parking Management Philippines Inc would also include the construction of an additional 208-bays of steel deck parking structure in MBP - a bustling business hub in the affluent suburb near Alabang Town Centre, one of Metro Manila

KUALA LUMPUR: Bintai Kinden Corp Bhd's unit Bintai Kindenko Sdn Bhd has accepted several awards from Tenaga Nasional to be the contractor establishing the new 132kV GIS switching station in Selangor for a sum of RM50.48mil.

The group said no major risk is foreseeable in undertaking this contract, which is non-renewable and set for a fixed period. The contract is estimated to be completed within 540 days from the commencement date.

"The Contract will not have any effect on the issued and paid up share capital of the Company and is not expected to have any material impact on the earnings, earnings per share, net assets per share and gearing of the Group for financial year ending 31 March 2019. 

"However, it is expected to contribute positively towards the future earnings of BINTAI Group," said Bintai in a stock exchange filing.