Inta Bina Group Berhad has secured a letter of award from Sunway Artessa Sdn. Bhd., a joint venture company of Sunway Berhad, for the main building work on an apartment located at Setapak, Kuala Lumpur. The total construction contract value is RM160.6 million.
With this contract, the Group’s total unbilled order book increases to RM1.3 billion.
The contract involves the construction of a 47-story apartment (468 units) with 4 levels of underground carpark and a developer unit on the roof top. The construction will take 33 months to complete from its commencement date.
Inta Bina Group Berhad managing director Paul Lim Ooi Joo said, “I am extremely delighted in securing this second project from Sunway Group and look forward to continue to collaborate with them in the future. Our first project – ‘Sunway Lenang Heights’ was handed over in the last quarter of 2021.
With the economy reopening and operating environment being eased, we look forward to a better year and have set an order book replenishment target of RM800 million for 2022. We remain optimistic on our outlook, supported by our ability to replenish the order book. The healthy unbilled order book, currently at RM1.3 billion, will provide us with earnings visibility over the next 3 years.
Just two days before, we have signed a shareholders’ agreement with Lagenda Properties Berhad to incorporate a joint venture company for undertaking the construction activities of Lagenda Properties in Kedah, Johor and Pahang with an estimated contract value of RM1.3 billion for the next 5 to 7 years. The joint venture is expected to further enhance our top- and bottom- line in the next few years.”
