Contractor to Actively Tender for Affordable Housing Project
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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 on Thursday, May 25, 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 the 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.
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.