KUALA LUMPUR: Binastra Corporation Bhd’s wholly owned subsidiary, Binastra Builders Sdn Bhd, has accepted two letters of award from Exsim Lumba Kuda Sdn Bhd for main building and infrastructure works worth a total of RM1.18bil.
In a filing with Bursa Malaysia, the group said the contracts cover the development of a 63-storey serviced apartment development comprising 4,525 units on Jalan Ah Siang in Johor Baru.
The contracts are split into two packages, with Package 2A covering main building works for Phases 1 to 3 valued at RM553.35mil, while Package 2B covers main building and infrastructure works for Phases 4 and 5 valued at RM627.49mil.
Binastra said both packages have a construction period of 34 months from the date of commencement.
“The contracts are expected to provide an additional income stream for the group for the financial year ending Jan 31, 2027 to 2029,” it said.
Managing director Datuk Jackson Tan Kak Seng said the contract marks Binastra’s largest to date, reflecting its strong foothold in Johor Bahru, supported by resilient residential demand, improving connectivity and rising investor interest.
“As one of the early entrants into the Johor Bahru market, we are encouraged to see our long-term commitment translate into tangible outcomes. Supported by our dedicated Johor team, we remain confident in our ability to deliver such large-scale, complex high-rise developments with discipline and consistency.
“With this latest win, our total outstanding order book has expanded to a record RM5.8bil, reflecting the scale of opportunities we are capturing as a trusted builder of choice,” he said in a separate statement.
To-date, Binastra has secured RM3.4bil in new contract wins, placing it firmly on track to achieve its RM4bil target for FY2026.
