PETALING JAYA: Contractor Kumpulan Kitacon Bhd secured a RM65.43mil job from Selangor state government’s Worldwide Holdings Bhd to build 182 units of landed residences.
The group said in a filing with Bursa Malaysia yesterday that its unit, Kitacon Sdn Bhd, has accepted a letter of award from Worldwide to undertake a proposed development in Selangor Cyber Valley, Dengkil, Selangor.
The project entails the construction of 182 units of double-storey terrace houses and one electrical substation.
The construction works are expected to commence on Feb 19, 2024 for a duration of 18 months.
Kitacon said the contract is expected to contribute positively to its earnings and net assets per share for the financial years ending Dec 31, 2024 onwards until the expiry of the contract.
In a separate statement, Kitacon managing director Tan Ah Kee said the group’s outstanding order book has increased to RM1.18bil with the latest job win.
“We have kicked off the year of the dragon on a bright note. This marks our third contract for this year, bringing our year-to-date contract wins to RM111mil.
“We have secured RM1.04bil worth of contracts in 2023 itself, and therefore we are cautiously optimistic that we will be able to maintain our momentum, going forward.
“We will strive to secure more contracts in this coming year to enhance our business sustainability and financial visibility,” he said.
