Bina Puri undertakes RM35mil Thai project

New high for Dagang NeXchange Bhd

KUALA LUMPUR: Bina Puri Holdings Bhd is undertaking to be the contractor of a THB250.6mil (RM35.03mil) project in Thailand.

A joint venture between Bina Puri Holdings (Thailand) Ltd and WNC Construction Co Ltd has entered into an agreement with another JV between Fine 22 Properties Company Ltd and Ya Thai Chemical Co to be the contractor of "I'm Fine Condominium" in Bangna, Thailand.

Including this project, Bina Puri's unbuilt order book stands at RM1.5bil to-date. 

"The project is expected to contribute positively to the net assets and earnings of Bina Puri Group for the financial year ending 31 December 2017," the company said in an announcement.

The counter was trading at a 52-week high of 51 sen on Oct 20, 2016, but has since lost about a third of its value. At midday, the stock was trading 1 sen or nearly 3% lower at 32.5 sen.