Sentoria bags design & build contract worth RM85.4mil

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KUALA LUMPUR (March 1): Property developer and resort operator Sentoria Group Bhd announced today its unit has secured a contract to design and build 659 single-storey terrace houses in Pahang, Kuantan, worth RM85.48 million.

The contract, which was awarded to its wholly-owned unit Sentoria Bina Sdn Bhd by Faja Pertiwi Sdn Bhd, also involves the sales and marketing of the said units, which will be located in Bukit Rangin 3 in Kuantan, its exchange filing today showed.

Sentoria said the contract commences today and is due for completion by March 2021.

It will have no material effect on Sentoria’s earnings, gearing or net assets per share for its current financial year ending Sept 30, 2019, but is expected to contribute positively towards the group's future financial performance, it added.

Shares in Sentoria slipped half a sen or 1.14% to close at 43.5 sen today, for a market capitalisation of RM242.57 million. The thinly-traded stock has lost about 32% of its value over the past year.