PETALING JAYA: Inta Bina Group Bhd’s wholly owned subsidiary Inta Bina Sdn Bhd (IBSB) has accepted a RM178.2 million contract from Southville City Sdn Bhd for the appointment of IBSB as the contractor for the main building works for a proposed serviced apartment project in Sepang.
The first phase of the project includes Block A (37-storey; 329 units of serviced apartment and 148 units of affordable serviced apartment), part multi-storey car park block, support facilities and nine-storey landscape deck as well as security guard house.
The second phase includes Block (488 units of 38-storey serviced apartment), three units of commercial space, part multi-storey car park block, support facilities and nine-storey landscape deck.
The completion period will be 30 months from date of commencement for the first phase and 31 months for the second phase.
“Barring any unforeseen circumstances, the contract is expected to contribute positively towards the future earnings of Inta Bina for the duration of the contract and will not have any effect on the share capital and substantial shareholders’ shareholdings of Inta Bina,“ the group said.
IBSB intends to fund the contract via internally generated funds and/or external borrowings.
from Business http://bit.ly/2VpRzDK
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