Bintai Kinden bags RM57.4mil contracts from TNB

KUALA LUMPUR: Bintai Kinden Corp Bhd's subsidiary Kejuruteraan Bintai Kindenko Sdn Bhd (KBK) has secured power substation and power transformer contracts from Tenaga Nasional Bhd with a combined value of RM57.4mil.

In a statement, the group said the power substation contract entails the supply, erection, testing and commission of a 275kV switching station in Malaysia-China Kuantan Industrial Park in Gebeng, Pahang, for RM31.5mil.

The second contract, valued at RM25.9mil, appoints KBK as the contractor for the proposed 132kV power transformer extension in Elmina West in Shah Alam.

The two contracts are estimated to be completed within 24 and 18 months respectively.

“These new contracts won are expected to strengthen and add credence to the Company’s track record in the mechanical and engineering industry. We will continue to leverage on our core competencies to bid for more contracts," said Bintai Kinden executive director Azri Azerai.

The contracts are expected to contribute positively to the revenue and earnings of the Company for the financial years ending 31 March 2022 and FYE2023 as well as to the future earnings and net assets per share of the group during the duration of the contracts.

With these new job wins, Bintai Kinden increased its outstanding order book to about RM170.9mil, which will provide a healthy earnings visibility for the next two financial years.