Kumpulan Kitacon Berhad’s wholly owned subsidiary has accepted a Letter of Award from Tropicana Alam Sdn Bhd for Main Building Works for a total contract sum of RM134.8 million.
This is for the proposed construction and completion of Phase 1 (Avisa) for 399 units of double storey terrace house (20’ x 70’), 32 units of double storey terrace house (22’ x 70’), 3 units of TNB substation (double chamber) on Persiaran Puncak Alam.
The Contract is to commence in April 2024 and is to be completed within Twenty Two months from the commencement date.
The company said the contract will not have any effect on the share capital and shareholding structure of Kumpulan Kitacon Berhad. However, is expected to contribute positively to the earnings and net assets per share for the financial years ending 31 December 2024 onwards until the expiry of the Contract.
