Kitacon secures RM64m Shah Alam construction contract

• The group announced that the contract entails the proposed construction and completion of Phase 3, comprising 130 units of double-storey semi-detached houses known as Arundina, in Shah Alam, Selangor

KUALA LUMPUR (Oct 9): Kumpulan Kitacon Bhd’s (KL:KITACON) wholly owned subsidiary Kitacon Sdn Bhd has secured a main building works contract valued at RM64.05 million, from S P Setia Eco-Projects Management Sdn Bhd. 

In a filing with Bursa Malaysia, the group announced that the contract entails the proposed construction and completion of Phase 3, comprising 130 units of double-storey semi-detached houses known as Arundina, in Shah Alam, Selangor. 

Kumpulan Kitacon said the contract is anticipated to positively impact its earnings and net assets per share for the financial year ending Dec 31, 2024 and beyond, continuing until the contract's expiry. 

The company added that the contract is set to commence on Nov 14, and is expected to be completed within 27 months from the start date.

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