Bintai Kinden unit wins RM74mil job from Myanmar firm – Business News

PETALING JAYA: Bintai Kinden Corp Bhd’s subsidiary, Bintai Kindenko Myanmar Co Ltd, has won a US$17.5mil (RM74.48mil) sub-contract works award from Soilbuild (Myanmar) Co Ltd.

In a filing with Bursa Malaysia, the mechanical and electrical engineering services provider announced that its subsidiary had accepted a letter of award to undertake sub-contract works for the proposed 26½ Somerset Serviced Apartment and 68 Residence in Yangon, Myanmar.

The works award included the provisions of supply and maintenance of electrical installation, air-conditioning and mechanical installation, as well as fire protection installation works. Bintai Kinden said in the filing that the sub-contract works are anticipated to be duly completed by mid-2018. “No major risk is foreseeable on the contract except for currency risk and it is a non-renewable construction contract with a fixed contract period. The sub-contract work is estimated to be completed by July 2018.

“The contract will not have any effect on the issued and paid-up share capital of the company and is not expected to have any material impact on the earnings, earnings per share, net assets per share and gearing of the group for the financial year ending March 31, 2018,” it said.


Source: The Star Online

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