INTA

0.345

-0.015 (-4.2%)

OTHERS INTA BINA GROUP BERHAD ("INTA BINA" OR "THE COMPANY") - LETTER OF AWARD ("LOA") OF MAIN BUILDING WORKS FOR CONTRACT SUM OF RM137.8 MILLION TO INTA BINA SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY

INTA BINA GROUP BERHAD

Type Announcement
Subject OTHERS
Description
INTA BINA GROUP BERHAD ("INTA BINA" OR "THE COMPANY")
- LETTER OF AWARD ("LOA") OF MAIN BUILDING WORKS FOR CONTRACT SUM OF RM137.8 MILLION TO INTA BINA SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY

Introduction

The Board of Directors of Inta Bina is pleased to announce that Inta Bina Sdn Bhd (“IBSB”), a wholly-owned subsidiary of Inta Bina, had on 30 August 2022 accepted the Letter of Award (“LOA”) from SDB Properties Sdn Bhd for Main Building Works for “Cadangan pembangunan perumahan berstrata di bawah Akta Hakmilik Strata 1985 (Akta 318) yang terdiri daripada: Fasa 1 - Blok A hingga Blok C mengandungi 26 unit rumah teres superlink (3 tingkat), Blok D hingga Blok I mengandungi 196 unit kondo villa (3-4 tingkat), 2 unit pencawang elektrik, 1 unit pondok pengawal, 1 unit kebuk sampah, kemudahan sokongan aras tanah G2 yang mengandungi ruang serbaguna serta kemudahan parkir kereta & motosikal, kemudahan sokongan aras tanah G1 yang mengandungi pejabat pengurusan, gimnasium, ruang bacaan, surau, tandas, kolam renang serta dewan serbaguna di atas PT 18282 (HSM 14822) dan PT 18600 (HSM 15095) Kemensah, Mukim Hulu Kelang, Daerah Gombak, Selangor Darul Ehsan untuk SDB Properties Sdn Bhd” for the total contract sum of RM137,763,392.16 (“the Contract”).

 

The Construction Period shall be for a period of 32 months commencing from 8 September 2022.

 

Risk Factors

There are no foreseeable significant risks other than operational risk associated with the Contract during the Construction Period.

 

Financial Effects

The Contract will not have any effect on the share capital and substantial shareholders’ shareholdings of Inta Bina.

 

Barring any unforeseen circumstances, the Contract is expected to contribute positively towards the future earnings of Inta Bina for the duration of the Contract.

 

The Group intends to fund the Contract via internally generated funds and/ or external borrowings.

 

Directors' and Substantial Shareholders' Interest

None of the Directors or Substantial Shareholders of Inta Bina or persons connected to them has any interest, direct or indirect, in the Contract.

 

Directors’ Statement

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.

 

This announcement is dated 1 September 2022.






Announcement Info

Company Name INTA BINA GROUP BERHAD
Stock Name INTA
Date Announced 01 Sep 2022
Category General Announcement for PLC
Reference Number GA1-01092022-00037