Inta Bina Group Bhd has secured a contract to develop two blocks of serviced apartment in Sepang, Selangor for RM178.2 million. The firm, in its exchange filing yesterday, noted its wholly-owned subsidiary, Inta Bina Sdn Bhd (IBSB) has been appointed by Southville City Sdn Bhd to build the project over a 31 months period. The project is divided into Phase 1 and Phase 2, and needs to be completed within 30 months and 31 months respectively from the commencement date. Phase 1 will consist of a development of 329 units of serviced apartments, 148 units of affordable serviced apartments while Phase 2 holds 488 units of serviced apartments. In its fourth quarter ended Dec 31, 18, Inta Bina’s revenue rose 58% year-on-year (YoY) to RM107.13 million from RM67.68 million while its net profit rose 10.7% to RM5.43 million from RM4.9 million. Inta Bina’s share price closed at 29 sen, 0.5 sen or 1.69% lower with a market capitalisation of RM155.23 million in yesterday’s trade.
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