KUALA LUMPUR: Bintai Kinden Corp Bhd, via its wholly-owned Kejuruteraan Bintai Kindenko Sdn Bhd, has secured two contracts worth a combined RM25.68 million.
The first contract, valued at RM24.98 million, involves the construction of 24 units of semi-detached three stories houses and 12 units of townhouses within a three-storey building in Cheras, Selangor.
Construction is set for 18 months with an expected completion before mid-2026.
The second contract, valued at RM700,000, is for the temporary power supply works for the existing building and associated works at Lapangan Terbang Sultan Adbul Aziz Shah awarded by Malaysia Airports Holding Bhd.
Datuk Tay Chor Han, managing director cum chief executive officer of Bintai Kinden, said the contracts demonstrated the positive restructuring of its operations.
"During my initial 10 months as MD, my team and I focused on critical tasks: negotiating with banks and creditors, implementing cost-cutting measures, completing, and finalised outstanding projects, ensuring debtor payments, and raising capital from the market.
"After 10 months, we began tendering for new jobs, marking a new phase of growth for the company. These efforts were pivotal in our aim to drive the company out of PN17 (Practice Note 17)."
Since its restructuring, he said Bintai Kinden had secured about RM56 million of contracts.
"Our present tender book stands at RM160 million, with our team actively pursuing and hopeful for new tender awards."
Bintai Kinden closed at 13.5 sen today for a market capitalisation of RM164.7 million.