Quick take: Inta Bina shares up on RM199mil contract win

KUALA LUMPUR: Shares in Inta Bina Group Bhd rose over 6% in early trade Tuesday after the company secured a RM199mil contract.

The building contractor added 6.12%, or 1.5 sen to 26 sen, its highest in a week with over 3.33 million shares traded.

Inta Bina has been appointed as the main contractor for a multi-facility apartment project in Subang Jaya for RM199mil from Tropicana Metropark Sdn Bhd (TMSB).

TMSB is an indirect wholly-owned subsidiary of Tropicana Corp Bhd.

Inta Bina said the contract was for the appointment of Inta as the main contractor for Phase I of Tropicana Metropark, a mixed commercial development project at Subang Jaya.

"Work will commence on Aug 24, 2020 and is scheduled for completion within 39 calendar months from the date of commencement,” it said.

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