Mohd Iskandar Dzulkarnain Ramli
KUALA LUMPUR: Bina Darulaman Bhd
(BDB) is planning to venture into three new business segments, adding to its current two business portfolios, starting in 2023 and beyond with the aim to further strengthen its resilience and future-proof revenue and profitability.
The new segments, namely agriculture, renewable energy, and telecommunications, are viewed as resilient throughout the pandemic phase, said acting president and group chief executive officer Mohd Iskandar Dzulkarnain Ramli.
"The pandemic in 2020 and 2021 demonstrated that our core businesses were highly vulnerable to lockdowns and movement control orders.
" We are currently undertaking studies to identify and determine the feasibility of adding these business sectors to achieve sustainable revenue," he said at the group's second quarter 2022 (Q2 2022) briefing here today.
BDB's current core businesses are property and engineering, construction, and quarrying (ESQ), with both divisions posting revenue of 37 per cent and 62 per cent respectively in the second quarter, said Mohd Iskandar Dzulkarnain.
The group registered a net profit of RM1.13 million in Q2 against a net loss of RM2.84 million in the same period a year ago, while revenue rose to RM51.62 million from RM41.93 million previously.
He said the improved revenue and profitability over the previous quarter are attributed to better contributions from its road construction activities and property division.
"Our substantial pipeline of property development and construction projects, such as state road maintenance works, the Pelubang water treatment plant, Darulaman Lagenda, and Aman Perdana projects, coupled with our track record of delivering projects on time and on budget, bodes well for our ability to secure more contracts in the second half of 2022 and 2023.
"We will also be looking to take on unique projects outside of our core businesses, such as the Langkawi Designer Premium Outlet, which will be a significant value multiplier for the property and ECQ segments," he added.
To date, its total orderbook for property and ESQ stood at RM1 billion and RM519 million respectively.
The group's total landbank, which is all in Kedah, stood at 809.37 hectares. - Bernama
