KUALA LUMPUR (March 29): Bintai Kinden Corp Bhd has bagged a S$14.2 million (RM44.94 million) contract to undertake subcontract works, including maintenance for mechanical and electrical works at the existing Raffles Hotel and Shopping Arcade in Singapore.
In a filing with Bursa Malaysia today, Bintai said its 69.82%-owned subsidiary Bintai Kindenko Pte Ltd has accepted a letter of award from Sunray Woodcraft Construction Pte Ltd for the project.
“The subcontract work is estimated to be completed by June 2018,” it added.
Bintai said the contract will not have any effect on the group’s issued share capital and is not expected to have any material impact on its earnings, earnings per share, net assets per share and gearing for the financial year ending March 31, 2017.
“However, it is expected to contribute positively towards the future earnings of Bintai Group,” it noted.
Bintai shares closed unchanged at 22 sen today, for a market capitalisation of RM63.27 million. — theedgemarkets.com