Comintel Corporation has received a revised order for its earlier contract which it announcements in May 2021 from Binastra
Construction for sub-contract for the construction and completion of concrete RC framework, architectural & infrastructure works in respect of a development project comprising of 5 blocks of affordable apartments under “Satu Anggota Satu Rumah” housing scheme located at Jalan Tasik Selatan, Mukim Petaling, Kuala Lumpur.
The revised contract value is now RM260 million from RM122.6 million due to a wider scope of work compared to the letter of award dated 30 May 2022. The Contract commenced work in March 2022 and is to be completed on 31 March 2025.
The Contract is expected to provide an additional income stream for the group over the next three financial years. Comintel said the contract will have no effect on the issued share capital of the Company but is expected to contribute positively to the earnings and net assets per share of the Group for the financial years ending 31 January 2024 to 2026.
