KUALA LUMPUR: Bintai Kinden Corporation Bhd has signed a memorandum of understanding (MoU) with Henan Province Installation Group (Malaysia) Sdn Bhd (HPIG), a subsidiary of China's Henan Province Installation Group Co Ltd, to strengthen their tendering capabilities and pursue a range of construction projects in Malaysia.
The MoU was signed via its subsidiary, Kejuruteraan Bintai Kindenko Sdn Bhd (KBK).
In a statement today, Bintai Kinden said the deal outlines a mutual understanding between KBK and HPIG to collaborate on securing future projects.
This is leveraging their respective expertise in the construction and mechanical and electrical (M&E) engineering sectors.
The collaboration will focus on several key areas, including the construction of high-rise commercial and residential buildings, industrial buildings, data centres, and sub-station and power distribution networks.
Bintai Kinden managing director and chief executive officer Datuk Tay Chor Han said the partnership will expand the company's presence in the domestic construction and M&E engineering market.
"With Henan's over 60 years of experience and proven track record in China across various sectors, we believe this collaboration will enhance our ability to secure and deliver on large-scale projects.
"This partnership strengthens our market position and enhances our service offerings, particularly in high-growth areas such as data centres and industrial buildings," he added.
Furthermore, the MoU is expected to enhance the ability to tender for larger, more complex projects, positioning the company as a key player in construction and engineering sectors.
The company said the partnership comes at a crucial time as it continues to uplift from Practice Note 17 status, which it entered in March 2023 due to financial challenges.
Bintai Kinden's share price closed at 9.5 sen for a market capitalisation of RM115.9 million.