KUALA LUMPUR (Oct 29): Kumpulan Kitacon Bhd (KL:KITACON) has secured a contract worth RM131.9 million to build terraced houses in Bandar Puncak Alam, Ijok, Selangor, for Tropicana Alam Sdn Bhd, a unit of Tropicana Corp Bhd (KL:TROP).

The contract was secured via its wholly owned Kitacon Sdn Bhd on Monday, which had accepted a letter of award from Tropicana Alam.

Under the 24-month contract that will begin on Nov 1, it will build 449 units of 20'x70' double-storey terraced house, 31 units of 22'x70' double-storey terraced house, and two power substations.

At the time of writing on Tuesday, Kitacon shares were trading down five sen or 0.68% lower at 74 sen, with a market capitalisation of RM364.98 million.