Pintaras Jaya bags RM67.6m contract in I-City

Pintaras Jaya bags RM67.6m contract in I-City
-A +A

KUALA LUMPUR (Jan 28): Pintaras Jaya Bhd's unit Pintaras Geotechnics Sdn Bhd has bagged a RM67.6 million contract from I-Bhd for provision of earthworks and piling works.  

In a filing with Bursa Malaysia today, Pintaras Jaya said the contract was to provide earthworks, piling and sub-structure works for Central Tower Project in i-City, Shah Alam.  

Central Tower Project comprises of DoubleTree by Hilton Shah Alam, residential service suites and signature offices.

Central Tower Project and CentralPlaza Mall is a joint venture between I-Bhd and the Central Group of Thailand.
 
Pintaras Jaya said the contract was valued at RM67.6 million, with a completion period of 14 months.

As of today, Pintaras Jaya has secured two contracts, worth RM140.4 million, from I-Bhd.

I-Bhd group is the master developer of i-City, a 72-acre freehold integrated mixed development Ultrapolis with a Gross Development Value (GDV) of RM9 billion along the Federal Highway, with a direct flyover access.

Pintaras Jaya expects the contract to contribute positively to its future earnings.

As at the noon break, Pintaras Jaya's share price closed at RM3.40, up five sen or 1.49%, with only 4,300 shares having exchanged hands. The current price gives it a market capitalisation of RM553.45 million. 

Meanwhile, I-Bhd fell 0.5 sen or 1.05% to 47 sen, for a market capitalisation of RM465.73 million.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)