CYBERJAYA: Shareholders of Classita Holdings Bhd
have approved the company’s change of name to Nexg Bina Bhd at its EGM, reflecting the group’s strategic expansion into the property construction and infrastructure sectors.
Independent, non-executive chairman Tan Sri Razarudin Husain said NexG Bina is more than symbolic as it reflects the group’s strategic realignment.
“NexG represents innovation and transformation, while Bina grounds the group in the construction, infrastructure and property development sectors where it sees long-term opportunity.
“We are realistic – this transformation is still at an early stage. But even at this stage, we are showing our ability to execute. Projects in Tapah, Perak and Bentong, Pahang as well as our land rationalisation in Kinta, Perak demonstrate how we can deliver while beginning to recycle capital effectively,” he told a press conference after the EGM here yesterday.
At the same time, he said, initiatives like the Ulu Kelang, Selangor development, built-lease-transfer (BLT) projects, and collaboration with Lion Pacific Sdn Bhd reflected the group’s long-term direction.
“The journey is about building credibility step by step so that NexG Bina can contribute to the government’s targets under the 13th Malaysia Plan, which calls for one million affordable homes by 2035,” he added.
Meanwhile, he said NexG Bina is committed to address the underrepresentation of bumiputra contractors at the G7 tier.
“We aim to develop into a bumiputra-led national contractor, with a business model that includes BLT across housing, institutional and infrastructure sectors.
“This approach not only eases fiscal pressures for the government but also builds recurring income streams for the company, ensuring sustainability,” he pointed out.
Collectively, its key ongoing and planned developments in Tapah, Ulu Kelang and Bentong represented an estimated gross development value of over RM360mil. —Bernama
