KUALA LUMPUR: Kumpulan Kitacon Bhd's subsidiary Kitacon Sdn Bhd has secured a RM54.5 million construction contract from Rawang Lakes Sdn Bhd.
In a filing with Bursa Malaysia, the developer said the contract involved the construction of 186 units of two-storey terrace houses and one unit of Tenaga Nasional Bhd substation in Bandar Tasik Puteri, Rawang.
The contract begins on August 1, 2024 and should be completed within 20 months from the date.
"The contract is expected to contribute positively to the earnings and net assets per share for the financial years ending December 31, 2024 onwards until the expiry of the contract," it said.
Kitacon shares closed at 72 sen on Friday, 0.5 sen or 0.7 per cent higher, for a market capitalisation of RM360 million.