Bina Puri wins RM1bil Thai high-speed rail deal


Bina Puri group executive director Datuk Matthew Tee said “We are happy to announce that after months of tendering and negotiating, we have finally secured another contract in Thailand.”

KUALA LUMPUR: Bina Puri Holdings Bhd’s joint-venture (JV) company has won a RM1.036bil bid for part of a high-speed railway project in Thailand.

The construction group announced yesterday the package was to connect regions in the Bangkok-Nong Khai section, namely, the Phase 1 Bangkok-Nakhon Ratchasima section.

The total length of the package is 13.68km, including a railway route measuring 12.38km.

It also includes building a new station (Phu Kao Lat Station) and renovating an existing station (Nakorn Ratchasima Station).

The scope of work includes earthwork, building a retaining wall, noise barrier, piling work, railway structures, building services, electrical and mechanical work, road work, piping and drainage work, and utilities.

The group said the bid was won by its wholly owned unit Bina Puri Sdn Bhd (BPSB) through a JV company, SPTK Joint Venture Company Ltd (SPTK JV).

BPSB, together with NPA Construction Co Ltd and Tim Sekata Sdn Bhd, had entered into a JV to form SPTK JV.

The high-speed railway project is a Thailand-China venture. “The contract value is 7.75 billion baht (RM1.036bil).

“A total of 26 projects valued at RM2bil have been completed by Bina Puri in Thailand since 2003, ” the group said in a filing with Bursa Malaysia.

Bina Puri said the contract is expected to contribute positively to its earnings and net assets. “With the award, the group’s unbuilt book order stands at RM1.9bil, ” it said.

In a statement, Bina Puri group executive director Datuk Matthew Tee(pic) said: “The construction sector has been hit the hardest by the country’s embattled economy, with the sudden change in government and outbreak of the Covid-19 pandemic taking place one after another in the past year.

“Nevertheless, we will show continued commitment to do our best in these trying times, especially by securing new projects in both local and overseas markets to ensure the income flow.

“We are happy to announce that after months of tendering and negotiating, we have finally secured another contract in Thailand.”

Tee said Bina Puri first ventured into Thailand in 2003 when it won a deal valued at over RM180mil to build an access road for the Suvarnabhumi International Airport in Bangkok.

Following this, the group secured some factory and warehouse construction work, as well as repair and upgrading work for the Malaysian Embassy Complex.

From 2006, Bina Puri (Thailand) Ltd in a JV with Deva Property Public Co Ltd won a deal valued at over RM1.8bil for eight packages of the Baan Eua-Arthon Housing Projects by the National Housing Authority of Thailand, comprising more than 40,000 low-cost apartment units and some semi-D double storey houses.

These low-cost housing projects were built using the Half Tunnel Form System, which is known to be fast and cost-effective.

“Apart from the low-cost housing projects, Bina Puri also undertakes high-rise condominium and apartment projects in Bangkok for notable Thailand developers, including the S&S Sukhumvit Co Ltd and Areeya Property Public Co Ltd, with more than 3,500 units completed, ” added Tee.

The projects completed include repair and upgrading works for the Malaysian Embassy Complex in Bangkok, a warehouse and a three-storey office building with associated infrastructure works at Rojana Industrial Park, Ayutthaya, and the construction of “A Space Condominium” with more than 2,000 units in Bangkok.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

Bina Puri , Mathew Tee , Thai , high-speed rail , contract ,

   

Did you find this article insightful?

Yes
No

50% readers found this article insightful

Next In Business News

Oil prices tumble 2% as Opec+ members argue over 2021 policy
OSK posts 3Q net profit of RM105.21mil
RHB Bank 3Q net profit slightly higher at RM622m
Tokyo Stock Exchange CEO to resign over Oct system failure
AMMB posts higher 1H underlying net profit of RM791.9m
BIMB posts 3Q net profit of RM135.81mil
Confidence in PN government lifts palm oil prices
KLCI takes pause as investors digest recent gains
AmInvest Research maintains Buy on Hong Leong Bank, FV RM19.30
Maybank’s 9M core net profit within CGS-CIMB Research’s forecast

Stories You'll Enjoy