Comintel bags two sub-contracts worth RM275.44 mil

KUALA LUMPUR (May 30): System integrator, Comintel Corporation Bhd’s (Comintel) wholly-owned subsidiary Total Package Work Sdn Bhd has accepted two revised letters of awards with regards to two sub-contract jobs worth RM275.44 million from Binastra Construction (M) Sdn Bhd.

The first sub-contract entails the construction and completion of reinforced concrete (RC) framework, architectural and infrastructure works for a development project comprising two blocks of serviced apartments in Damansara Perdana, Selangor, worth RM152.84 million, it said in a filing with Bursa Malaysia on Monday (May 30).

The second sub-contract is for the construction and completion of concrete RC framework, architectural and infrastructure works for a development project comprising five blocks of affordable apartments under the “Satu Anggota, Satu Rumah” housing scheme in Kuala Lumpur, for a contract sum of RM122.6 million.

The first project is expected to be completed on March 17, 2024, and the second on March 31, 2025, said Comintel.

It added that the sub-contracts are expected to provide an additional income stream for the group over the next four financial years.