PETALING JAYA: Binastra Corp Bhd has accepted a letter of award from Mightyprop Sdn Bhd for construction works to a serviced apartment building in Sungai Buloh, Selangor, worth RM235.48mil.
In a filing with Bursa Malaysia, Binastra said the contract covers construction and completion of earthworks, piling, pile caps, main building works and infrastructure works.
The job is in respect of a proposed development on Plot 4 comprising one block of serviced apartment building containing 39 storey serviced apartments (662 units) with one floor of "Sky Garden" park facilities on the rooftop and facilities on level one, above the four-level podium parking that includes two units of business spaces, two underground levels and three levels of basement, as well as eight units of business spaces and one unit of a 11 kilovolt substation main switch station.
“The contract is expected to provide an additional income stream for the group over the next four financial years,” said Binastra.
“The contract will have no effect on the issued share capital of the company but it is expected to contribute positively to the earnings and net assets per share of the group for the financial years ending Jan 31, 2025 to 2028,” it added.
