KUALA LUMPUR (Sept 22): Konsortium Transnasional Bhd’s (KTB) unit has secured a building work contract worth RM109.61 million for an apartment project in Hulu Kinta, Perak.

In a filing to Bursa Malaysia on Thursday (Sept 22), the company said its wholly owned subsidiary Transnational Builder Sdn Bhd won the piling work, earthworks and building work from Maju Teluk Batik Sdn Bhd.

The scope of works comprise piling work, earthworks and building work for apartment blocks B and C, and two carparks of a mixed development at Hulu Kinta, Perak.

The contract is expected to contribute positively to the earnings per share, net assets per share and gearing of the KTB group for the financial year ending Dec 31, 2023 and onwards, the group said in the filing.

For the six months ended June 30, 2022, KTB recorded higher revenue of RM36.8 million as compared to RM6 million in the preceding financial period, which was more than six-fold over a year.

The higher revenue mainly resulted from the contribution from the new construction division and was also driven by the increase in revenue generated from the public transportation services after the re-opening of interstate travel in the transition to endemic phase.

Nevertheless, its net loss in the first half widened to RM11.81 million due to its earnings still being impacted by the one-off loss on disposal of buses during the quarter under review.

Shares of KTB closed unchanged at 20 sen a share, giving it a market capitalisation of RM91.61 million.