Inta Bina posts 22% premium in debut

KUALA LUMPUR: Building contractor Inta Bina Group Bhd closed at 30.5 sen in its debut on the ACE Market of Bursa Malaysia yesterday, notching a modest 22% or 5.5 sen premium.

Its shares opened at 33 sen, which was also its highest price point for the day. Some 126 million shares changed hands for the day, making it the second most actively traded stock.

The building group will be bidding for more affordable housing projects in the Klang Valley from both private housing developers under the federal and state affordable housing scheme.

Managing director Paul Lim Ooi Joo said in a statement that the growth trend in the real estate construction industry is expected to mirror closely the growth trend in the construction industry.

“According to the Independent Market Research report by Protégé Associate Sdn Bhd, the market size (revenue) of the real estate construction market in Malaysia stood at RM27.55 billion in 2016 and is expected to grow at a compounded annual growth rate of 4.9% from 2017 to 2021,” he said.

He added that the affordable housing segment is not only gaining traction in the local property market but also has growth potential and is receiving favourable attention from the government.