PETALING JAYA: Bintai Kinden Corp
Bhd has secured a contract worth RM27.15mil from Teladan Group Bhd for the construction and completion of six blocks of shop offices at Bukit Intan, Seremban, Negri Sembilan.
In a filing with Bursa Malaysia, Bintai Kinden said its wholly-owned subsidiary, Kejuruteraan Bintai Kindenko Sdn Bhd, had secured the contract from Teladan’s wholly-owned subsidiary, Pavilion Link Sdn Bhd.
The company said the construction period for the contract is 15 months.
“Site possession is set on March 26, 2025 and work commencement is on April 9, 2025. The expected completion date is on July 8, 2026.”
The company said the contract will contribute positively to the earnings of the group over the next two financial years.
“No major risk is foreseeable on the contract except on normal business risks,” it said.
Datuk Tay Chor Han, managing director and chief executive officer of Bintai Kinden, said: “This prestigious award significantly strengthens our unbilled order book to RM132.91mil, reinforcing our confidence in achieving the requisite revenue and profitability milestones to qualify for upliftment from our current Practice Note 17 status on Bursa Malaysia.”
Following Bursa Malaysia’s approval of its Regularisation Plan on Jan 15, 2025 and subsequent approval by shareholders on Feb 25, 2025, Tay said the company has been aggressively pursuing new contract opportunities through tenders in both the mechanical and electrical and construction sectors.
“With these initiatives in place, Bintai Kinden is now strategically positioned to strengthen its financial foundation, diversify its revenue streams, and accelerate the momentum of its recovery.
“The continued expansion into the construction segment, supported by new project wins, reflects the company’s commitment to rebuilding its order book and enhancing shareholder value.”
For its third quarter ended Dec 31, 2024, Bintai Kinden’s net profit dropped to RM758,000 from RM3.46mil in the previous corresponding period, while revenue declined to RM7.5mil from RM12.4mil previously.
