Kumpulan Kitacon Berhad wholly owned subsidiary company, Kitacon Sdn. Bhd. has accepted a Letter of Award from GLM Emerald West (Rawang) Sdn. Bhd. for Main Building and Infrastructure Work for a total contract sum of RM101.5 million.
The contract is for the proposed construction and completion of 161 units of 2-storey terrace houses 1 unit of electrical substation and under the second phase 139 units of 2-storey terrace houses, 1 unit of electrical substation Pond and recreation area of 10.80 acres with “borrow pit” in Mukim Rawang, Gombak District, Selangor Darul Ehsan.
The Contract is to commence on 1 June 2023 and is to be completed within Twenty months from the commencement date. The group said the contract will not have any effect on the share capital and shareholding structure of Kumpulan Kitacon Berhad and that it is expected to contribute positively to the earnings and net assets per share of Kumpulan Kitacon Berhad for the financial years ending 31 December 2023 onwards.
