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- The contract was awarded to its wholly owned unit Kitacon Sdn Bhd by Sime Darby Property (BBR3 Asset 1) Sdn Bhd, a wholly owned subsidiary of Sime Darby Property Bhd (KL:SIMEPROP).
KUALA LUMPUR (Feb 10): Kumpulan Kitacon Bhd (KL:KITACON) announced on Monday that it has secured a RM104.3 million building works contract.
The contract covers the construction and completion of 16 semi-detached factories with offices, four additional factory units, and three substations with related infrastructure in Bandar Bukit Raja III, Klang, Selangor, the company said in an exchange filing.
Work is set to start on Feb 24, 2025, to be completed within 18 months, Kitacon said.
The contract was awarded to its wholly owned unit Kitacon Sdn Bhd by Sime Darby Property (BBR3 Asset 1) Sdn Bhd, a wholly owned subsidiary of Sime Darby Property Bhd (KL:SIMEPROP).
With the latest contract win, Kitacon’s outstanding order book has now surpassed RM1.5 billion. The project is the second major contract announced this year. In January, the company secured a construction contract worth RM65.68 million for bungalows in Sungai Buloh, Selangor.
Shares of Kitacon paused for midday trading break on Monday, down half a sen to 73 sen, giving the company a market capitalisation of RM363 million, ahead of the contract announcement. Year-to-date, the stock has declined a little over 3%.
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