Latest news with #JacksonTanKakSeng
The Star
08-07-2025
- Business
- The Star
Binastra unit accepts RM405mil construction award in Bukit Jalil
KUALA LUMPUR: Binastra Corp Bhd 's wholly-owned subsidiary Binastra Builders Sdn Bhd has secured a RM405mil construction job for The Queenswoodz residential project in Bukit Jalil, Kuala Lumpur. The contract is deemed a related party transaction as the project owner, Exsim Jalil Link Sdn Bhd (EJL), is a company with shareholders in common with Binastra, including Binastra managing director Datuk Jackson Tan Kak Seng and executive director Lee Seng Yong. The contract is scheduled to be completed within 41 months from the date of commencement, said Binastra in a stock exchange filing. It is expected to provide additional income stream to the group over the next four years. According to Binastra, the job entails the construction of 43- and 44-storey apartment blocks with a combined 1,004 units. The project will also include a shop unit, two units of commercial spaces, eight levels of podium parking, one level of utility space including one main electrical substation and facilities for residents as well as a guardhouse. "This marks the continuation of our winning streak — the fourth project awarded to us as main contractor on this prime 17.9-acre land in Bukit Jalil. With this latest award, the cumulative contract value secured for all four projects now stands at approximately RM1.8bil," said Tan in a statement He said the group has secured RM1.4bil in new projects to date, bringing its total outstanding order book to RM4.6bil.
New Straits Times
08-07-2025
- 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.
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.
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.
