PETALING JAYA: Binastra Corp Bhd
has accepted two letters of award from Exsim Kebun Teh Sdn Bhd for main building and external works in Johor Baru, totalling RM458.5mil.
In a filing with Bursa Malaysia, Binastra said the contracts were in relation to the development of a 43-storey serviced apartment (plot one) and a block of 41-storey serviced apartment (plot two).
Works on plot one will commence on April 29, and is expected to be completed by Sept 28, 2028. The commencement date for plot two has yet to be confirmed.
“The contracts are expected to provide an additional income stream for the group over the next four financial years.
“They will have no effects on the issued share capital of the company but are expected to contribute positively to the earnings and net assets per share of the group for the financial years ending Jan 31, 2026 to 2029,” it said.
