Bintai Kinden’s subsidiary gets RM169mil S’pore hospital job

KUALA LUMPUR: Bintai Kinden Corp Bhd’s subsidiary Bintai Kindenko Pte Ltd has clinched a S$56.13mil (RM168.7mil) subcontract to supply and install air-conditioning and mechanical ventilation system at the proposed 19-storey Outram Community Hospital, which will be linked to Singapore General Hospital, as well as at its Campus Logistics Centre.

In a filing with Bursa Malaysia, the mechanical and electrical engineering firm said the 69.82%-owned subsidiary had on Friday accepted the letter of award from Penta Ocean Construction Co Ltd.

Bintai Kinden expected the project to be completed by February 2019.

Earlier this year, Singapore’s Health Ministry awarded Penta Ocean Construction the contract to build the community hospital for S$674mil (RM2.03bil).

Bintai Kinden posted a group net loss of RM31.41mil for the financial year ended March 31, 2016, as its operating expenses increased as a result of higher impairment loss on receivables amounting to RM34.79mil. Mechanical and electrical engineering services provided by subsidiaries Kejuruteraan Bintai Kindenko Sdn Bhd (in Malaysia) and Bintai Kindenko Pte Ltd (overseas) were by far the biggest revenue contributor, but property development contributed more to its pre-tax profit at RM8.16mil (versus RM3.36mil).

In the first quarter ended June 30, 2016, the group made an unaudited net profit of RM285,000.

It said the latest poject would not have any any material impact on the group's earnings, earnings per share, net assets per share and gearing for this financial year ending March 31, 2017.