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Inta Bina Aims To Actively Tender For More Affordable House Projects

Last update: 25/05/2017KUALA LUMPUR, May 25 (Bernama) -- Building contractor, Inta Bina Group Bhd, is expected to take a more active approach in tendering for affordable housing projects in the Klang Valley from private housing developers under the federal and state affordable housing scheme.

In a statement today, the company said, the affordable housing segment has growth potential and continued to receive favourable attention from the Malaysian Government and has gained traction in the local property market.

Managing Director, Paul Lim Ooi Joo, said the company's strategy to constructing affordable housing projects efficiently was through the usage of aluminium system formwork which was suitable for mass construction of buildings with repetitive design.

"As such, our proposed acquisition of the additional aluminium system formwork can support our plan to penetrate into the affordable housing segment," he said.

The company, which made a firm debut on the Ace Market of Bursa Malaysia today, has raised RM26.76 million from its initial public offering (IPO) of 107.05 million new shares at an issue price of 25 sen per share.

Lim said Inta Bina planned to spend RM5 million out of RM26.76 million raised from the IPO proceeds for capital expenditure to buy various machines, equipment and replace the fully depreciated equipment within 12 to 24 months.

-- BERNAMA