Latest news with #ExsimJalilLinkSdnBhd
Malaysian Reserve
4 days ago
- Business
- Malaysian Reserve
Binastra retains Buy, target price stays at RM2.60
Binastra Corp Bhd clinched a RM405m construction contract from Exsim Jalil Link Sdn Bhd for The Queenswoodz @ Bukit Jalil. This brings year-to-date contract wins to RM1.4b, accounting for 40% of our full year FY26E replenishment assumption. 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 RM2.60, based on an unchanged target 16x multiple on FY27E earnings per share. 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 (July 9, 2025) (Calls by analysts tracked by Bloomberg: 7 Buy, 0 Hold, 0 Sell; Consensus target price: RM2.57)
New Straits Times
5 days ago
- Business
- New Straits Times
Binastra secures RM405mil contract for Bukit Jalil residential project
KUALA LUMPUR: Binastra Corp Bhd has secured a RM405 million construction contract from Exsim Jalil Link Sdn Bhd for The Queenswoodz, a high-rise residential development in Bukit Jalil. The contract, awarded to its wholly-owned subsidiary Binastra Builders Sdn Bhd, involves the construction of two residential blocks comprising a total of 1,004 units. In a statement, it said the construction is expected to be completed within 41 months from the commencement date, which will be confirmed by the project architect. This latest win marks Binastra's fourth consecutive project on the 7.244-hectare Bukit Jalil site, bringing the cumulative contract value for the area to RM1.8 billion. Binastra managing director Datuk Jackson Tan Kak Seng said the contract marks the continuation of the group's winning streak. "This not only reinforces our proven track record in project delivery but also demonstrates our ability to build long-term client relationships through consistent performance and construction excellence," he said. Additionally, Binastra has secured RM1.4 billion in new projects so far this year, pushing its total outstanding order book to RM4.6 billion. Binastra aims to accelerate job replenishment efforts, providing strong visibility into future earnings as it enters the second half of 2025.
