PETALING JAYA: Kumpulan Kitacon Bhd
’s wholly-owned subsidiary, Kitacon Sdn Bhd, has secured a RM104.3mil contract from Sime Darby Property (BBR3 Asset 1) Sdn Bhd for main building works in Klang, Selangor.
In a statement, the group said the contract entailed the proposed construction of 20 semi-detached factories and three Tenaga Nasional Bhd substations, including infrastructure and other works.
The contract will commence on Feb 24, 2025, and is expected to be completed in 18 months.
The group expects the contract to contribute positively to its earnings and net assets per share for the financial years ending Dec 31, 2025, onwards until the expiry of the contract.
“The risk factors affecting the contract include changes in the economic, political and regulatory environment, and operational risks such as completion risk and shortage of materials and skilled labour, which the group would take appropriate measures to minimise,” it added.
