Bina Puri targets 20% increase in bottom line

KUALA LUMPUR: Bina Puri Holdings Bhd is eyeing for a 20% increase in its bottom line this year, with the construction division continuing as the main contributor.

Group executive director Matthew Tee said despite the challenging global environment and uncertainty in the local market as well as the weakening ringgit, the target was achievable.

“We have to face changes in the currency and high cost in raw materials, which will definitely have an impact, especially for imported products.

“We have to tighten up and manage these challenges better to offset the rising cost,” he told reporters after the company’s AGM here yesterday.

In 2014, the company’s total turnover was at RM1.05bil.

On outlook, chairman Tan Sri Wong Foon Meng said demand for property in Malaysia remained high.

Bina Puri, he added, would continue tendering for 1Malaysia People Housing projects.

He said the company had to-date tendered for up to 20 projects worth about RM5bil, compared with 33 submitted last year.

The projects tendered were valued at RM8.63bil. — Bernama