Kumpulan Kitacon bags RM131.9mil construction contract from Tropicana Alam

KUALA LUMPUR: Kumpulan Kitacon Bhd’s wholly-owned subsidiary, Kitacon Sdn Bhd has secured a RM131.9mil construction contract from Tropicana Alam Sdn Bhd.

In a filing with Bursa Malaysia, Kumpulan Kitacon said the construction included 449 units of double-storey terrace houses (20’ x 70’), 31 units of double-storey terrace houses (22’ x 70’), and two units of TNB substations (double chamber) on at Bandar Puncak Alam, Selangor

The contract will begin on Nov 1, 2024, and is expected to be completed within 24 months from the start date.

Kumpulan 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.