Inta Bina secures RM224.80mil contract for serviced apartment project

KUALA LUMPUR: Inta Bina Group Bhd’s wholly-owned subsidiary Inta Bina Sdn Bhd has been awarded a contract from Tropicana Metropark Sdn Bhd to construct and complete main building works for a serviced apartment project for RM224.80 million.

In a filing with Bursa Malaysia today, the company said the construction would involve the proposed development of a 30-storey serviced apartment block, gymnasium, parking lots and other facilities at Lot 72054, Jalan Persiaran Teknologi Subang, Taman Tropicana Metropark, Subang Jaya, Selangor.

It said the construction is expected to take 34 months starting from May 2, 2024.

Inta Bina said there were no foreseeable significant risks other than operational risks associated with the contract during the construction period.

”The contract will not have any effect on the share capital and substantial shareholders’ shareholdings of Inta Bina.

"Barring any unforeseen circumstances, the contract is expected to contribute positively towards the future earnings of Inta Bina for the duration of the contract,” it said, adding that the group intends to fund it via internally generated funds and/or external borrowings. - Bernama