Inta Bina clinches RM181m mixed development construction contract

• The contract, awarded by Eco Sanctuary Sdn Bhd, covers phases one to four of the proposed Seruma Integrated Development at Eco Santuari, according to a bourse filing.

KUALA LUMPUR (Feb 28): Inta Bina Group Bhd (KL:INTA) has secured a RM181 million contract to undertake the construction of a mixed commercial development project in Kuala Langat, Selangor.

The contract, awarded by Eco Sanctuary Sdn Bhd, covers phases one to four of the proposed Seruma Integrated Development at Eco Santuari, according to a bourse filing.

The construction includes retail and commercial shop units, an 11-storey office block and a 21-storey serviced apartment block.

Inta Bina said the contract, awarded to its wholly-owned subsidiary Inta Bina Sdn Bhd, will span 33 months. The project will be funded through a combination of internally generated funds and external borrowings.

The contract is expected to boost Inta Bina’s earnings throughout its duration, the group added.

For the fourth quarter ended Dec 31, 2024, Inta Bina’s net profit rose 38.3% to RM9 million from RM6.51 million a year earlier, as revenue increased 23.84% to RM196.62 million from RM158.8 million. The group recorded an all-time high net profit of RM33.18 million and revenue of RM690.8 million for the full financial year.

As of end-December 2024, Inta Bina's cash and short-term deposits stood at RM115 million, compared with total borrowings of RM112.65 million.

Shares of Inta Bina closed down 5.26% or 2.5 sen to 45 sen on Friday, valuing the construction outfit at RM262.8 million.

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