KUALA LUMPUR (June 7): Bintai Kinden Corp Bhd has bagged a US$17.5 million (RM74.5 million) deal in Myanmar to undertake air-conditioning and fire protection installation work.

In a filing with Bursa Malaysia, the group said its subsidiary Bintai Kindenko Myanmar Co was awarded the contract by Soilbuild Myanmar Co Ltd on May 28.

The contract is for two developments — Somerset Serviced Apartment and 68 Residence — in Bahan township in Yangon.

“No major risk is foreseeable on the contract except for currency risk and it is a non-renewable construction contract with fixed contract period,” said Bintai Kinden.

The group expects the work to be completed by July 2018.

Bintai Kinden’s shares closed 0.5 sen or 2.38% lower at 20.5 sen yesterday, for a market capitalisation of RM59.36 million. — theedgemarkets.com

For more stories, download TheEdgeProperty.com pullout here for free.

SHARE
SPONSORED CONTENT
Damayan Residences—new freehold sanctuary in Subang Jaya, where urban energy meets nature’s calm

With just 308 units within a single block, this development gives you a level of privacy and exclusivity rare in today’s urban market, with a walking-distance LRT station to boot.

read more
RELATED POSTS
  1. Bintai Kinden wins contract from Teladan to build office blocks in Seremban
  2. Bintai Kinden gets approval for regularisation plan, confident measures will help exit PN17
  3. Bintai Kinden clinches RM61m housing construction job in Melaka