Kumpulan Kitacon wins RM62.3mil construction contract in Ijok

PETALING JAYA: Kumpulan Kitacon Bhd has accepted a letter of award (LoA) worth RM62.3mil from KL-Kepong Country Homes Sdn Bhd for construction work in Ijok, Selangor.

In a filing with Bursa Malaysia, the company said the LoA, which was secured by its wholly-owned subsidiary, Kitacon Sdn Bhd, will entail the development of 128 units of two storey cluster houses, a guardhouse and TNB substation.

“The contract shall commence on Aug 4, 2023 and is to be completed within 18 months.

“The contract, however, is expected to contribute positively to the earnings and net assets per share of Kumpulan Kitacon Bhd for the financial years ending Dec 31, 2023 onwards until the expiry of the contract.”