KUALA LUMPUR: Bintai Kinden Corp Bhd’s 69.82 per cent subsidiary Bintai Kindenko Pte Ltd has awarded a contract worth S$39.6 million (RM122.26 million) from the Land Transport Authority Singapore to undertake mechanical work.
In an exchange filing today, the project management and consultancy company said the contract is for the supply and installation of environmental control system for the four-in-one rail and bus depot in Singapore.
“No major risk is foreseeable on the contract except for the possibility of long construction period that will over stretch the preliminary costing, but this can be mitigated with close monitoring of status and planning on manpower required,” it said.
The company noted the contract is a non-renewable construction, which is expected to be completed by 2024.
Bintai said the contract is not expected to have any material impact on its earnings, earnings per share, net assets per share and gearing for the financial year ending March 31, 2018.
“However, it is expected to contribute positively towards the future earnings of Bintai Group,” it said.
As of 5pm today, Bintai share price was traded at RM0.20 with a market capitalisation of RM56.47 million.