Comintel Corporation Bhd announced that its wholly owned subsidiary, Binastra Builders Sdn Bhd (formerly known as Total Package Work Sdn Bhd) has accepted a letter of award for Main Building Works from Builtamont Development Sdn Bhd in respect of a proposed development in Taman Desa, KL.
The project consists of 2 blocks of suite apartments, Block A – 54 levels (629 units), B. Block 47 levels (607 units), including a 9 ½ level podium for multi-level car parking with 1 level of semi-basement car parking, along with facilities for residents, electric substation, refuse room and security guardhouse.
The total contract value for the contract is RM229.8 million and will commence on 1 May 2023 and to be completed within thirty-four months from the commencement date.
Comintel is expected to generate an additional income stream from the project over the next three financial years.
The company’s Managing Director and major shareholder, Datuk Tan Kak Seng is also a substantial shareholder of Maxim Global Berhad, the holding company of BDSB. Datuk Tan Kak Seng is not a director of MGB or BDSB and therefore the contract is not regarded as a related party transaction.
