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KUALA LUMPUR, April 20 -- Inta Bina Group Bhd’s wholly-owned subsidiary Inta Bina Sdn Bhd (IBSB) has secured a contract for the construction of a serviced apartment project worth RM106 million from Mitraland Holding (M) Sdn Bhd’s wholly owned subsidiary Vibrantline Sdn Bhd.
In an announcement to Bursa Malaysia today, Inta Bina said IBSB had accepted the letter of award.
”The development project involved a two-storey complex, parking podium, serviced apartments and a few other facilities,” it said, adding that the construction period shall be for a period of 28 months and the date of commencement shall be on April 26, 2021.
The contract is expected to contribute positively towards the future earnings of Inta Bina for the duration of the contract and the group intends to fund the contract via internally generated funds and/or external borrowings.