Latest news with #BinastraCorporationBhd
The Star
19-06-2025
- Business
- The Star
Binastra records 43% revenue growth, order book at RM4.1bil in 1Q
KUALA LUMPUR: Binastra Corporation Bhd's revenue rose by 43 per cent to RM256.8 million in the first quarter ended April 30, 2025 (1Q FY2026), a 43 per cent increase year-on-year (y-o-y) compared to 1Q FY2025. Meanwhile, its net profit jumped by 38.9 per cent y-o-y to RM25.1 million, driven by strong contributions from the group's core construction segment. In a statement today, managing director Datuk Jackson Tan Kak Seng said the company is "operating at full capacity' as it pursues a record year, targeting RM4.0 billion in new contract wins for FY2026. Growth is expected to be driven by continued momentum in Klang Valley and rising opportunities in Johor Bahru, the construction group said, adding that its order book is currently at approximately RM4.1 billion, with 25 ongoing projects. During the quarter, Binastra also proposed the acquisition of LF Lansen, a provider of energy-efficient engineering solutions, including thermal energy storage and buffer tank systems. The move is expected to strengthen Binastra's environmental, social and corporate governance credentials and technical expertise, particularly in supporting data centre projects. "Additionally, we incorporated our renewable energy arm, Binastra Green Energy Sdn Bhd in February 2025, and aim to partner with a prominent local solar energy player. "We anticipate that this partnership will enable us to undertake full engineering, procurement, construction, and commissioning roles for renewable energy developments, paving the way for our long-term strategy to diversify into green infrastructure,' said Tan. - Bernama
New Straits Times
19-06-2025
- Business
- New Straits Times
Binastra records 43pct revenue growth, order book at RM4.1bil in 1Q
KUALA LUMPUR: Binastra Corporation Bhd's revenue rose by 43 per cent to RM256.8 million in the first quarter ended April 30, 2025 (1Q FY2026), a 43 per cent increase year-on-year (y-o-y) compared to 1Q FY2025. Meanwhile, its net profit jumped by 38.9 per cent y-o-y to RM25.1 million, driven by strong contributions from the group's core construction segment. In a statement today, managing director Datuk Jackson Tan Kak Seng said the company is "operating at full capacity" as it pursues a record year, targeting RM4.0 billion in new contract wins for FY2026. Growth is expected to be driven by continued momentum in Klang Valley and rising opportunities in Johor Bahru, the construction group said, adding that its order book is currently at approximately RM4.1 billion, with 25 ongoing projects. During the quarter, Binastra also proposed the acquisition of LF Lansen, a provider of energy-efficient engineering solutions, including thermal energy storage and buffer tank systems. The move is expected to strengthen Binastra's environmental, social and corporate governance credentials and technical expertise, particularly in supporting data centre projects. "Additionally, we incorporated our renewable energy arm, Binastra Green Energy Sdn Bhd in February 2025, and aim to partner with a prominent local solar energy player. "We anticipate that this partnership will enable us to undertake full engineering, procurement, construction, and commissioning roles for renewable energy developments, paving the way for our long-term strategy to diversify into green infrastructure," said Tan.
Malaysian Reserve
12-06-2025
- Business
- Malaysian Reserve
Binastra retains Buy, target price raised to RM2.30
Binastra Corporation Bhd secured a RM268m contract from TNJ Development Sdn Bhd, a subsidiary of CPI Land, for the main building works of Tuan Heritag3 (RM670m gross development value). The work scope covers the construction of a 45-storey apartment comprising 1,269 units in Segambut, KL. The contract is slated to commence in Aug 2025, with targeted completion by Dec 2027. We make no changes to our earnings forecast as this contract win falls within our replenishment assumptions. We reiterate our Buy rating and 12-month target price of RM2.30, based on an unchanged target 18x multiple on FY26E EPS. We continue to like Binastra for its strong competitive advantage as a preferred contractor with key clients and superior profit margins. Key downside risks include slower-than-expected order book replenishment, unforeseen delays, and project margin cost pressure. – Phillip Research Sdn Bhd (June 12, 2025) (Calls by analysts tracked by Bloomberg: 6 Buy, 0 Hold, 0 Sell; Consensus target price: RM2.22)
New Straits Times
11-06-2025
- Business
- New Straits Times
Binastra bags RM268mil contract to build 45-storey apartment block
KUALA LUMPUR: Binastra Corporation Bhd's unit Binastra Builders Sdn Bhd has secured a RM268 million contract for the construction of a 45-storey suite apartment block here. The contract was awarded by TNJ Development Sdn Bhd, a subsidiary of CPI Land Sdn Bhd. According to a filing with Bursa Malaysia, the project is set to begin on Aug 15 and is expected to be completed within 28 months. The scope of contract includes the main building works for the development, which consists of a 45-storey tower housing 1,269 apartment units. The structure will feature three levels of amenities and recreational facilities, eight levels of podium parking, 37 floors of residential suites and a guardhouse. "The contract is expected to provide an additional income stream for the group over the next three financial years," it said. Binastra managing director Datuk Jackson Tan Kak Seng said the latest contract represents further progress in strengthening the company's footprint in the Klang Valley, as it continues to expand its portfolio and gain momentum, with nearly RM1 billion in new contracts secured to date this year. "We are honoured to secure this contract from a new client beyond our existing main clienteles. It is always exciting to collaborate with forward-thinking developers who share our passion for creating exceptional projects," he said. Binastra's new contract wins for the year to date have reached RM976.9 million, boosting its total outstanding order book to RM4.3 billion.
