PETALING JAYA: Kumpulan Kitacon Bhd
secured a contract worth RM131.9mil to build 480 units of double-storey terrace houses in Puncak Alam, Selangor for a subsidiary of Tropicana Corp Bhd.
The group said its wholly-owned unit, Kitacon Sdn Bhd, has accepted a letter of award from Tropicana Alam Sdn Bhd on Oct 28.
Under the award, Kitacon will build 449 units of terrace houses with a size of 20 ft by 70 ft each, and 31 units of terrace houses with a size of 22 ft by 70 ft each.
It will also construct two units of Tenaga Nasional Bhd double-chamber substations. The contract will commence on Nov 1 and is expected to be completed within 24 months.
It will 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 of the group for the financial years ending Dec 31, 2024 onwards,” it said in a filing with Bursa Malaysia.
