KUALA LUMPUR: Kumpulan Kitacon Bhd's subsidiary, Kitacon Sdn Bhd, has secured a RM64.05 million contract from S P Setia Eco-Projects Management Sdn Bhd.
According to a filing with Bursa Malaysia, the contract covers the construction and completion of 130 double-storey semi-detached houses and a Tenaga Nasional Bhd (TNB) substation in Setia Alam.
Work on the project is set to begin on Nov 14, 2024, with a completion timeline of 27 months from the start date."The contract will not have any effect on the share capital and shareholding structure of Kumpulan Kitacon.
"However, it is expected to contribute positively to the earnings and net assets per share of Kumpulan Kitacon for the financial years ending Dec 31, 2024 onwards until the expiry of the contract," it added.
Kumpulan Kitacon's share price was trading 0.65 per cent lower to 76 sen a share.