Latest news with #IntaBina
The Star
4 days ago
- Business
- The Star
Inta Bina's job win expected to contribute RM12mil to earnings
PETALING JAYA: Inta Bina Group Bhd 's recent construction job win is expected to contribute about RM12mil in net profit over the construction period. This is based on the assumption of a profit before tax margin of 6%, according to TA Research. Inta Bina secured a letter of award worth RM264mil from 368 Segambut Sdn Bhd for the construction of main building works of the luxury serviced apartment project called Stellaris Riana Dutamas in Segambut, Kuala Lumpur. The construction involved two blocks comprising 1,143 serviced apartment units, an eight-level podium parking structure, and associated facilities. The project will commence on Aug 18, with completion targeted within 38 months. This marked Inta's third contract secured in financial year 2025 (FY25), bringing total year-to-date wins to RM467mil, or 46.7% of the research house's full-year assumption. Its unbilled order book had increased to an estimated RM1.7bil, representing 2.5 times FY24 construction revenue, TA Research said. Despite the new job wins, it revised its progress billing assumption to reflect the timing of revenue recognition from the contracts. As a result, its FY25 earnings projections are reduced marginally by 5.6%. It also applied some housekeeping adjustments to its models to account for the impact of the new employee share option scheme shares, which leads to earning per share dilution across FY25 to FY27. Its target price is reduced slightly to RM1 a share from RM1.06 a share, based on an unchanged 11 times 2026 earnings. It maintained its 'buy' call on the stock. It liked Inta Bina as it is a direct beneficiary of the robust domestic property sector; has strong earnings visibility which is backed by a resilient order book, and improving profitability. For its first quarter ended March 31, 2025, Inta Bina's net profit rose to RM10mil from RM7.05mil in the previous corresponding quarter, while revenue grew to RM194.6mil from RM159mil a year earlier. In a filing with Bursa Malaysia on its first quarter financial performance announced in May, the company said the construction of data centres mainly in Johor and Selangor as well as industrial buildings, is expected to boost and strengthen the non-residential construction sub-sector. 'The residential buildings sub-sector is expected to grow, supported by an increasing demand for affordable homes,' it said.
The Star
5 days ago
- Business
- The Star
Inta Bina bags RM265mil development job
PETALING JAYA: Inta Bina Group Bhd has accepted a letter of award from GDP Architects Sdn Bhd, on behalf of 368 Segambut Sdn Bhd and a joint venture between IJM Land Bhd and FCW Holdings Bhd , for main building works worth RM264.5mil. In a filing with Bursa Malaysia, the construction company said the project is for a proposed development of two 40-storey service apartment blocks (comprising 1,143 apartment units). 'The contract period shall be for a period of 38 months from the date of commencement on Aug 18, 2025, and overall completion date shall be on Oct 17, 2028,' said Inta Bina. Barring any unforeseen circumstances, the company said the contract is expected to contribute positively towards the future earnings of Inta Bina for the duration of the contract. 'The group intends to fund the contract via internally generated funds and/or external borrowings. There are no foreseeable significant risks other than operational risk associated with the contract during the construction period,' it said. For its first quarter ended March 31, 2025, Inta Bina's net profit rose to RM10mil from RM7.05mil in the previous corresponding quarter while revenue grew to RM194.6mil from RM156mil a year earlier. PETALING JAYA: Inta Bina Group Bhd has accepted a letter of award from GDP Architects Sdn Bhd, on behalf of 368 Segambut Sdn Bhd and a joint venture between IJM Land Bhd and FCW Holdings Bhd, for main building works worth RM264.5mil. In a filing with Bursa Malaysia, the construction company said the project is for a proposed development of two 40-storey service apartment blocks (comprising 1,143 apartment units). 'The contract period shall be for a period of 38 months from the date of commencement on Aug 18, 2025, and overall completion date shall be on Oct 17, 2028,' said Inta Bina. Barring any unforeseen circumstances, the company said the contract is expected to contribute positively towards the future earnings of Inta Bina for the duration of the contract. 'The group intends to fund the contract via internally generated funds and/or external borrowings. There are no foreseeable significant risks other than operational risk associated with the contract during the construction period,' it said. For its first quarter ended March 31, 2025, Inta Bina's net profit rose to RM10mil from RM7.05mil in the previous corresponding quarter while revenue grew to RM194.6mil from RM156mil a year earlier.
The Star
5 days ago
- Business
- The Star
Inta Bina bags RM264.5mil service apartment job
PETALING JAYA: Inta Bina Group Bhd has accepted a letter of award from GDP Architects Sdn Bhd, on behalf of 368 Segambut Sdn Bhd and a joint-venture between IJM Land Bhd and FCW Holdings Bhd , for main building works worth RM264.5mil. In a filing with Bursa Malaysia, the construction company said the project is for a proposed development of two 40-storey service apartment blocks (comprising 1,143 apartment units). 'The contract period shall be for a period of 38 months from the date of commencement on Aug 18, 2025 and overall completion date shall be on Oct 17, 2028,' said Inta Bina. Barring any unforeseen circumstances, the company said the contract is expected to contribute positively towards the future earnings of Inta Bina for the duration of the contract. 'The group intends to fund the contract via internally generated funds and/ or external borrowings,' it said. 'There are no foreseeable significant risks other than operational risk associated with the contract during the construction period,' it said.
