BDB acquires companies for RM13mil

KUALA LUMPUR: Bina Darulaman Bhd (BDB) has proposed to acquire Gemi Puncak Sdn Bhd and Gemi Puncak Quarry Sdn Bhd for RM13mil.

In a statement, BDB said its subsidiary BDB Infra Sdn Bhd signed a share sale agreement with Gemi Puncak and Gemi Puncak Quarry.

The agreement involves the purchase of shares at a purchase price of RM13mil.

Executive director Raja Shahreen Raja Othman said that the acquisition plan was part of the group's business growth strategy, particularly involving the engineering, construction, and quarry (ECQ) division.

"This acquisition plan will also further enhance BDB's portfolio, contributing positively to the company's net assets and net asset per share for the financial year ending Dec 31, 2023.

"In addition, it is also expected to have an impact on the company's earnings per share for the same financial period," he said.

Raja Shahreen said Gemi Puncak Quarry located in the Ulu Melaka, is the largest granite quarry in Langkawi and covers an area of 60 acres.

"The quarry has an annual production capacity of 240,000 metric tons and will add to BDB's quarry portfolio following the Bukit Perak Quarry in Pendang, Kedah.

"This is part of BDB’s plan to become the main quarry product supplier in Langkawi and to ensure sufficient quality quarry product supply for future development in Langkawi," he added.

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Bina Darulaman


Next In Business News

CPO futures expected to trade lower next week
Short Position: Stockbroking challenge, Earnings drag, How low can you go?
Expansion of M’sian builders overseas – strategy and necessity
Ringgit to recover on investor confidence
Easing residential overhang
How to correct global imbalances?
Are we targeting subsidies right?
MAHB to ‘clean house’ at Malaysia airports
Alliance, CGC allocate RM1bil for MSMEs
Workplace stress and anxiety

Others Also Read