KUALA LUMPUR: Bina Puri Holdings Bhd has secured a contract worth RM113.29 million to complete the construction of water pipelines, civil and structure work under the proposed Serian Regional Water Supply Phase II (Stage 1) in Sarawak.
In a statement today, Bina Puri said its subsidiary, Bina Puri Builder Sdn Bhd has secured the contract from Tokoh Ilham Sdn Bhd.
"The contract is expected to be completed by April 2027 and is anticipated to positively impact the group's earnings and net assets throughout its duration," it said.
Bina Puri group managing director and group chief executive officer Chai Chan Tong said with a robust track record in Sarawak, including landmark projects such as the Sarawak State Legislative Assembly (DUN) and Plaza Merdeka, the company is set to deepen its commitment to local development.
Chai said this contract supports our strategic focus on sustainable growth and reinforces our dedication to driving progress in Sarawak. "Bina Puri remains committed to excellence in the construction and infrastructure sectors. We will persist in enhancing our core businesses to achieve robust results." he said.
Chai added that the contract is expected to further contribute positively to Bina Puri's earnings profile, thus providing the company with healthy earnings visibility moving forward.
Bina Puri currently has an orderbook of RM1.2 billion for its construction and property segment.
Bina Puri closed unchanged at 30 sen a share, giving it a market capitalisation fo RM202.5 million.