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KUALA LUMPUR (March 10): Kumpulan Kitacon Bhd said on Tuesday it has secured a construction contract in Gombak, Selangor, worth RM89 million.
The contract was awarded to the company’s unit, Kitacon Sdn Bhd, by Rawang Lakes Sdn Bhd, according to a filing to the stock exchange.
It covers the construction and completion of Phase 6A, which includes 140 two-storey terrace houses, a guard house, a TNB substation and a two-storey clubhouse, as well as Phase 6B, comprising 118 two-storey terrace houses.
Work is scheduled to commence on March 16 and is expected to be completed within 20 months, the company said.
This is Kitacon’s first contract win of the year, and the company expects it to contribute positively to earnings and net assets per share for the financial year ending Dec 31, 2026, and onwards until completion.
Shares in Kitacon were unchanged at 70 sen ahead of the announcement, giving the company a market capitalisation of RM350.2 million.
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