PETALING JAYA: Kumpulan Kitacon Bhd
has secured a RM64.05mil contract from S P Setia Eco-Projects Management Sdn Bhd for the construction of 130 units of double-storey detached houses and a Tenaga Nasional Bhd substation in Precinct Arundina in Setia Alam, Shah Alam.
It said in a filing with Bursa Malaysia that the contract will commence on Nov 14, 2024 and be completed within 27 months.
“The contract will not have any effect on the share capital and shareholding structure of Kumpulan Kitacon.
“The contract, however, is expected to contribute positively to the earnings and net assets per share of Kumpulan Kitacon for the financial years ending Dec 31, 2024 onwards, until the expiry of the contract,” the company said.
It added that potential risk factors affecting the contract include shortage of materials and skilled labour.
