Quick take: Inta Bina gains 3.4% on news of apartment contract


  • Business
  • Thursday, 09 May 2019

KUALA LUMPUR: Shares of Inta Bina Group Bhd rose in active trading on Thursday morning, after the company secured RM178.2mil serviced apartment job.


The counter rose 3.45%, or one sen to 30 sen with 2.5 million shares exchanged hands.


Inta Bina has bagged a contract to build two blocks of serviced apartments from Southville City Sdn Bhd for RM178.2mil.


Its wholly-owned unit Inta Bina Sdn Bhd accepted the letter of award on Monday.


One block comprises 329 units of serviced apartments and 148 units of affordable serviced apartments, whereas the other block holds 488 units of serviced apartments.


The first phase of the project includes Block A (37-storey; 329 units of serviced apartment and 148 units of affordable serviced apartment), part multi-storey car park block, support facilities and nine-storey landscape deck as well as security guard house.


The second phase includes Block (488 units of 38-storey serviced apartment), three units of commercial space, part multi-storey car park block, support facilities and nine-storey landscape deck.


The completion period will be 30 months from date of commencement for the first phase and 31 months for the second phase.


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