KUALA LUMPUR: Binastra Corporation Bhd's (formerly known as Comintel Corporation Bhd
) unit has received a RM283.3mil contract for the main building works of a major residential development in Taman Desa, Kuala Lumpur.
It received the contract from from Kaisar Maxim Sdn. Bhd.
The project entails the construction of a total of 624 residential units across three 31-storey blocks, four podium levels and five levels dedicated for parking, amongst others. Construction is scheduled to commence on Sept 17, 2024, with an expected completion timeline of 32 months, it said.
"With RM1.9bil new contracts secured to date, we are confident that the group is on track to achieve its full-year target of RM3.0bil," Managing Director of Binastra Corporation Bhd Datuk Jackson Tan Kak Seng said in a statement.
"We remain dedicated to leverage our expertise in the construction industry to capitalise on new opportunities, especially in data centres as well as engineering, procurement, construction and commissioning (EPCC). We look forward to deliver more exciting updates to the shareholders in the remaining months of the financial year 2025,” he added.
The company said this latest contract it its tenth contract for the financial year ending Jan 31, 2025 (FY25) and brings its financial year to date contract wins to RM1.9bil, far exceeding last financial year’s total contracts won of RM612.2mil.
Earlier this year, Binastra was also entrusted with a piling works contract for this same residential development.
As of 5 Sept 2024, Binastra said its outstanding order book value amounts to RM2.8bil, which is expected to provide financial visibility in the next four years.
