Inta Bina benefits from robust property sector

PETALING JAYA: Inta Bina Group Bhd has secured a second construction job this year that offers a projected profit before tax margin of 5.4% and a net profit contribution of about RM7mil over the construction period.

Inta Bina reported that it has accepted a letter of award for a contract amounting to RM169.7mil from Next Delta Sdn Bhd, a subsidiary of Avaland Bhd.

The contract is for the construction and completion of main building works at the Tropicana Metropark township development in Subang Jaya, Selangor, for two serviced-apartment towers, a podium block and a guard house.

The research house said it continues to like Inta Bina for being a direct beneficiary of the robust domestic property sector, strong earnings visibility backed by a resilient order book, and improving profitability.

TA Research has a target price of 50 sen a share for the company, based on an unchanged 11 times FY25 earnings and maintains a “buy’’ call on the stock.

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