Kitacon wins RM54.5mil construction contract

KUALA LUMPUR: Kumpulan Kitacon Bhd’s wholly owned subsidiary company, Kitacon Sdn Bhd has secured a RM54.5mil construction contract from Rawang Lakes Sdn Bhd.

Kitacon, in a filing with Bursa Malaysia, said the contract is for the construction of 186 units of two-storey terrace houses and one unit of Tenaga Nasional Bhd substation in Bandar Tasik Puteri, Rawang, Selangor.

The contract commences on August 1, 2024, and is to be completed within 20 months from the commencement date.

Kitacon expects the contract to contribute positively to its earnings and net assets per share for the financial years ending Dec 31, 2024 and onwards until the expire of the contract.