CEO Morning Brief

Kumpulan Kitacon Bags RM62m Contract From KL Kepong to Build Cluster Houses

Publish date: Fri, 04 Aug 2023, 08:44 AM
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TheEdge CEO Morning Brief

KUALA LUMPUR (Aug 3): Kumpulan Kitacon Bhd has secured a RM62.3 million contract from Kuala Lumpur Kepong Bhd (KLK) to build houses in Bandar Seri Coalfields, Sungai Buloh.

The construction group said its wholly owned subsidiary, Kitacon Sdn Bhd, was awarded the contract by KLK's wholly owned unit, KL-Kepong Country Homes Sdn Bhd, to build 128 units of two-storey cluster houses within a period of 18 months.

The group said the contract will not have any effect on its share capital and its shareholding structure, but will contribute positively to its earnings and net assets for the financial year ending Dec 31, 2023 and until the expiry of the contract.

Shares in Kumpulan Kitacon ended one sen or 1.49% lower at 66 sen on Thursday (Aug 3), giving the group a market capitalisation of RM327.57 million.

Source: TheEdge - 4 Aug 2023

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