Comintel secures RM34m works subcontract for government office, training centre

KUALA LUMPUR (April 26): Comintel Corp Bhd has bagged a subcontract worth RM33.78 million relating to the construction of an office and training centre for a government department.

In a filing with the bourse, the company said the job awarded by Pertama Makmur Sdn Bhd includes builder works and mechanical works.

The subcontract is slated to commence on June 7, to be completed within 20 months.

“The subcontract is expected to provide an additional income stream for the group over the next two years. The subcontract 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, 2023 to 2025,” it said.

Comintel’s share price closed unchanged at nine sen, giving a market capitalisation of RM12.6 million.