KUALA LUMPUR (Jan 31): Lebtech Bhd (KL:LEBTECH) has secured a RM21 million contract to develop 104 units of two-storey terraced houses in Seksyen U13, Shah Alam.
In a bourse filing on Friday, the construction firm said its wholly owned subsidiary Lebtech Construction Sdn Bhd was awarded the contract by Brighton Land Sdn Bhd.
The project commenced on Jan 28, and is expected to be completed within 18 months. Lebtech said it anticipates the contract to positively impact the group’s earnings and net assets for the financial year ending Dec 31, 2025.
For the third quarter ended Sept 30, 2024, Lebtech posted a net loss of RM33,000, compared to a net profit of RM246,000 in the same period last year, as revenue fell 59.47% year-on-year to RM2.72 million. The decline was attributed to higher construction costs and lower margins for projects in Setia Alam.
For the cumulative nine months ended Sept 30, 2024, the group reported a net loss of RM122,000, reversing from a net profit of RM365,000 a year earlier.
Lebtech shares last traded at 75 sen, giving the company a market capitalisation of RM102.4 million.
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Source: EdgeProp.my
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