Kitacon’s subsidiary bags RM80.95mil construction job from Boustead Balau

KUALA LUMPUR: Kumpulan Kitacon Bhd’s wholly-owned subsidiary, Kitacon Sdn Bhd, has accepted a contract from Boustead Balau Sdn Bhd for the proposed construction and completion of 274 units of double-storey houses and other associated works in Semenyih, Selangor worth RM80.95 million.

"The contract shall commence on Aug 1, 2023 and is to be completed within 32 months from the commencement date,” Kitacon said in a filing with Bursa Malaysia today.

It said the contract would not have any effect on the share capital and shareholding structure of Kitacon but is expected to contribute positively to the earnings and net assets per share for the financial years ending Dec 31, 2023 onwards until the expiry of the contract. - Bernama