Inta Bina Secures RM115.7 Million Sime Darby Property Contract
RHB Research maintains a buy call on Inta Bina Group Bhd following a new residential construction project win.
Inta Bina Group Bhd has been awarded a construction contract worth RM115.7 million from Sime Darby Property (KL East). The project involves the development of 61 units of three-storey terrace houses along with an electrical sub-station.
Following the announcement of the contract win, RHB Investment Bank Bhd has maintained its buy call on the construction group. The firm has set a target price of RM0.67 for the stock, representing an implied upside of 81 percent.
According to the original publisher, the analyst assessment highlights that Inta Bina is currently trading below the Bursa Malaysia Construction Index five-year average. This valuation gap serves as a primary driver for the firm's positive outlook on the company’s market performance.
The awarding of this contract underscores the ongoing activity within Malaysia's construction sector, particularly regarding residential developments tied to major property players. For investors and market observers, the deal signals potential growth for Inta Bina as it expands its project portfolio within the local property market.
Source
Originally reported by Businesstoday. Read the original report →
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