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 5 September 2022 accepted the Letter of Award (“LOA”) from Eco Ardence Sdn Bhd for Design and Build Main Building Works (“Contract”) for the total contract sum of RM146,000,000.00 only for the proposed development of Hana Service Apartment.

Details of the Contract are as follows:

Cadangan pembangunan perniagaan bercampur di bawah Akta Hakmilik Strata 1985 (Akta 318) yang mengandungi:

a) 1 blok pangsapuri perkhidmatan 32 tingkat (500 unit) yang terdiri daripada 450 unit Jenis A (900KPS) dan 50 unit Jenis B (550KPS)

b) 1 tingkat kemudahan dan rekreasi (bumbung podium) terdiri daripada 1 unit dewan, 1 unit gimnasium, taman permainan dan kolam renang dewasa dan kolam renang kanak-kanak

c) 1 blok podium tempat letak kereta berbumbung 8 tingkat beserta kemudahan di tingkat bawah terdiri daripada 1 unit pejabat pengurusan, 1 unit musolla (lelaki & perempuan), 1 unit pencawang elektrik, 7 unit kedai, 19 unit kedai pejabat dan 1 unit tadika

d) 1 blok bangunan perniagaan 5 tingkat terdiri daripada 14 unit kedai, 48 unit kedai pejabat dan 1 unit pencawang elektrik

e) 1 unit pondok pengawal

f) 1 unit kebuk sampah dan 1 unit ‘spiral waste bin’

di atas No. 10 (PT 39547), Persiaran Setia Damai, Eco Ardence, Seksyen U13, 40170 Shah Alam, Selangor Darul Ehsan untuk Tetuan Eco Ardence Sdn Bhd.

The Construction Period shall be for a period of 30 months commencing from the date of site possession on 11 November 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 5 September 2022.