KUALA LUMPUR: Bintai Kinden Corp
Bhd continues to seek opportunities in the region following the surge in economic activities after two years of pandemic-related lockdowns.
"Through our indirect subsidiary, Johnson Medical International Sdn Bhd, we have a niche as a turnkey solutions provider of mobile, modular and offsite engineered healthcare infrastructure that we intend to expand and in which our M&E engineering services can also benefit.
"Through our 51%-owned subsidiary, Bintai Energy Sdn Bhd, we have been busy exploring opportunities to distribute flanges and other related piping products, the latest of which is a business collaboration agreement with PT Raintech Indo Energi," said executive director Azri Azerai in a statement.
For the first quarter ended June 30, 2022, The company recorded a 153% surge in revenue year-on-year to RM30.88mil on the back of its mechanical and electrical (M&E) business, although net profit was 25.75% lower at RM1.12mil due to variation orders from completed M&E projects.
It said the M&E engineering business contributed RM26.43mil for 1QFY23, which was an increase of 203.72% compared with RM8.7mil in 1QFY22.
Meanwhile, the concession business brought in RM3.6mil, a marginal increase compared with RM3.55mil.
Bintai Kinden operates the entire in-campus accommodation for Universiti Melaka as part of a 25-year concession from Kolej Teknologi Islam Melaka Bhd (KTIMB).
As of March 31, 2022, KTIMB owes Bintai Kinden an outstanding sum of RM30.18mil from the concession.
Bintai Kinden’s order book covering M&E as well as oil and gas projects amount to RM120.43mil.
