KUALA LUMPUR (Aug 17): Inta Bina Group Bhd has been appointed as the main contractor for a multi-facility apartment project in Subang Jaya for RM199 million.
The contract awarded by TMSB to Inta is a fixed-price contract of RM199.0 million. The Group expects this project to contribute significantly to its top and bottom lines.
In a bourse filing today, Inta Bina said its wholly-owned unit Inta Bina Sdn Bhd was awarded the project by Tropicana Metropark Sdn Bhd, a wholly-owned unit of Tropicana Corporation Bhd.
The project, it said, covered the development of a 39-floor apartment comprising 120 service apartment units, 536 service studio apartment units, and nine floors of podium development including parking lots, commercial units and associated facilities.
Work will commence on Aug 24 and is scheduled for completion within 39 months, Inta Bina said.
Inta Bina managing director Paul Lim said in a statement that the project will keep the group busy for the next few years.
“Amidst the challenging operating environment, we remain very active in tendering for new projects. We are forward looking and have put in measures to continue striving in such an environment,” he said.
Lim added: Since 2019, we have increased our professional headcount in the tender section by 25%. Good talents are hard to come by and customers give us a mobilisation period of as short as two weeks, hence it is strategic to secure our human capital in this challenging environment to better position the group for large tenders.
“We want to achieve much more than survival in this environment and emerge stronger from this crisis. We want to let this crisis define us as a company.”
Shares of Inta Bina rose 1.5 sen or 6.52% to 24 sen, valuing the group at RM131.14 million.