• The company expects the contract to contribute positively to its earnings for the financial year ending Dec 31, 2024 and until the contract expires.

KUALA LUMPUR (July 26): Kumpulan Kitacon Bhd (KL:KITACON) has secured a RM54.5 million contract to undertake the construction of 186 terrace houses in Rawang, Selangor.

In a bourse filing on Friday, the construction company said the contract to build the houses in Bandar Tasik Puteri was awarded to its subsidiary Kitacon Sdn Bhd by Rawang Lakes Sdn Bhd.

The contract will commence on Aug 1 and be completed within 20 months, it said.

The company expects the contract to contribute positively to its earnings for the financial year ending Dec 31, 2024 and until the contract expires.

Including the latest one, Kumpulan Kitacon has announced four contracts since the start of 2024, with a total value of RM335.62 million.

Shares of Kitacon closed half a sen or 0.7% higher at 72 sen on Friday, valuing the company at RM357.50 million.

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