KUALA LUMPUR (Sept 15): Bintai Kinden Corp Bhd’s sub-subsidiary accepted a letter of intent from Riverview Company Ltd to undertake a RM32.56 million sub-contract involving works on mechanical, electrical, plumbing and fire-fighting, in Vietnam. In a filing with Bursa Malaysia today, Bintai Kinden said Bintai Kindenko (Vietnam) Co Ltd would carry out the contract for a residential project called Project Shining that is expected to be completed in Oct 2017. “The project will not have any effect on the company’s issued and paid up share capital and is not expected to have any material impact on the group’s earnings, earnings per share, net assets per share and gearing for the financial year ending March 31, 2017. However, it is expected to contribute positively towards the future earnings of the group,” it said. Bintai Kinden closed unchanged at 20 sen today, for a market capitalisation of RM42.5 million.

Source: The Edge Markets September 15, 2016 10:41 UTC