Inta Bina has secured an award from Southville City Sdn Bhd for Main Building Works, Earthworks, Piling & Pile Caps, Substructure Works, Ancillary Buildings, Infrastructure Works, Interior Design Works and Landscape Works for Phase 1 and 2 of Southville City – M Sinar for the total contract sum of RM206 million.
The completion period for Phase 1 consist of 500 unit service apartment 33 storey – 38 months from the Date of Commencement of Phase 1 while Phase 2 consist of 499 unit service apartment 33 storey – 33 months from the Date of Commencement of Phase 2
The group does not see any foreseeable significant risks other than operational risks associated with the Contract during the Construction Period.
Inta Bina said the contract will not have any effect on the share capital and substantial shareholders’ shareholdings of Inta Bina. The Group intends to fund the Contract via internally generated funds and/ or external borrowings.
The Board of Directors of Inta Bina, after due consideration, is of the opinion that the Contract is in the best interest of the group. The Contract is being entered into in the ordinary course of business and is not subject to the approval of shareholders.