Latest news with #RM4.6bil
The Star
18-07-2025
- Business
- The Star
Binastra venturing beyond property projects
PETALING JAYA: Binastra Corp Bhd 's appetite to venture beyond its bread and butter residential property projects may pave way for other types of projects moving forward, says RHB Research. This is evident from the group's data centre (DC) projects as well as recent awards related to sewage treatment plants. Citing Binastra's fourth DC job in Cyberjaya, RHB Research stated: 'Timeline-wise, the DC job for MYT DC3 Sdn Bhd is expected to be completed in sections between June and December 2025.' The Cyberjaya project, which is worth RM250mil with a capacity of about 10.5MW, was awarded in February 2025. 'Based on our observation, the progress is currently 25% to 30% and is considered quite commendable as Binastra has managed to build around three floors (the DC is designed to have six floors) in a span of about four months,' it pointed out. Binastra is deploying bubbledecks in the structure of the Cyberjaya DC, which reduces the usage of concrete in addition to quicker installation with less formwork required. Binastra's plan to acquire a 40.8% interest in LF Lansen Sdn Bhd with a call option to increase the stake to 51% for a maximum price of RM45mil, would enable it to have better expertise, particularly in relation to thermal energy storage and distribution DC cooling equipment, and heating, ventilation and air conditioning. 'Based on our estimates, Binastra to date has secured about RM1.2bil worth of DC jobs which represent 18% of the company's RM4.6bil outstanding order book,' RHB Research said The research house remained cognisant of external factors such as the potential artificial intelligence chip curbs imposed on Malaysia by the United States. 'Nevertheless, we take comfort that potential offtakers for the DCs in Bukit Jalil awarded to Binastra are likely corporations based in Asia,' it added. Exsim Development has secured an offtaker (set to be the anchor tenant) – a Japanese Fortune 500 company for extension of the phase one of Exsim's Bukit Jalil DC, while it continues to receive strong interest from a large East Asian enterprise and a major local corporate.
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.
The Star
08-05-2025
- Business
- The Star
Kerjaya Prospek unit bags JB construction works for RM162mil
From left: Ta Wee Dher, executive director of Majestic Gen; Datuk Hoo Kim See, CEO; Tee Eng Tiong, CEO and executive director of Kerjaya Prospek Group; and Chia Sow Teck, senior contract manager of Kerjaya Prospek (M) Sdn Bhd KUALA LUMPUR: Kerjaya Prospek Bhd's wholly-owned subsidiary Kerjaya Prospek (M) Sdn Bhd has secured an award from Majestic Gen Sdn Bhd for building contract works in Johor Bahru for RM162mil. The group said in a stock exchange filing the job entails the main building works of a 47-storey service apartment with 732 units and nine level so fpdoum parking. The development also includes one level of basement parking and mechanical and electrical (M&E) facilities, one level of parking and M&E facilities with one commercial unit and three levels of recreational facilities. The contract will commence on Aug 1, 2025, and be completed within 36 months. It is expected to provide an additional stream of revenue for the group over the next three years. "We are honoured to be entrusted with the construction of Majestic Gen's maiden project in Johor, which also represents our first contract win in the state for 2025. "Geographically, our focus remains on three growth regions, namely Klang Valley, Penang and Johor, where we see strong demand and vibrant development activities continue to shape the future of urban living," said Kerjaya Prospek CEO and executive director Tee Eng Tiong in a statement. According to Tee, the group's year-to-date new contract wins have reached RM870.3mil, putting it on track to achieving its RM1.6bil target for the year. He added that total outstanding order book stands at RM4.6bil, providing healthy earnings visibility and solid foundation for continued growth over the next four financial years.
