Bina Darulaman records best financial performance in seven years

ALOR SETAR: Bina Darulaman Bhd (BDB) recorded an excellent performance for the financial year 2023 (FY2023) with a revenue of RM313.1 million which is the highest since 2016.

BDB group executive director Raja Shahreen Raja Othman said the achievement also saw BDB record revenue exceeding RM300 million for the first time in seven years.

"The company showed a strong growth of 35.3 per cent compared to RM231.4 million in financial year 2022. The engineering, construction and quarrying segments were the main contributors to the increase after benefiting from the recovery post COVID-19 pandemic.

"Wholly owned subsidiary BDB Infra Sdn Bhd has garnered a state road maintenance contract worth RM204 million from the Kedah government as well as a RM34.1 million contract from the Ministry of Agriculture and Food Security for the tertiary irrigation system in the state," he said at a press conference here today.

Earlier, he attended the 29th BDB annual general meeting which was also attended by BDB chairman Che Had Dhali, board members and group senior management.

Raja Shahreen said that in the real estate segment, several development projects have been launched in Bandar Darulaman, Jitra; Darulaman Saujana, Hosba; Aman Nusa and Darulaman Sanctuary in Langkawi in FY2023.

"During that period, profit before tax (PBT) increased by 61.1 per cent to RM14.5 million driven by higher revenue from operations at Bukit Perak Quarry, Pendang and Gemi Puncak Quarry, Langkawi as well as contributions from joint venture projects in Kubang Pasu and Sungai Petani.

"Although the gross profit margin showed a lower amount of 17.1 per cent compared to 20.8 per cent in the previous year which was caused by a number of factors including the increase in the cost of materials and the lack of manpower, but the profit after tax (PAT) increased by 121.4 per cent to RM12.4 million,” he said.

On the company's plans for 2024 and beyond, he said BDB remains cautious and optimistic amid market uncertainty, emphasising sustainability and focusing more on increasing supply chain resilience, workforce skills and investment in energy production.

"We also have plans to develop high-rise residences in Kedah but we have to see the demand first. If we build a lot but there are no buyers, we will lose later. So we will do a study first," he said. - Bernama

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