Latest news with #TheQueenswoodz
The Star
09-07-2025
- Business
- The Star
Trading ideas: Alliance, Binastra, YTL Power, SkyWorld, Ho Wah, Bina Puri, Sapura Energy, NPC, Aeon Credit
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Alliance Bank Bhd said its rights issue of two new shares for every 17 shares held has been oversubscribed by 55.1%. Binastra Corp Bhd 's wholly-owned subsidiary Binastra Builders Sdn Bhd has secured a RM405mn construction job for The Queenswoodz residential project in Bukit Jalil, Kuala Lumpur. YTL Power International Bhd has invested about RM10bn in AI and AI infrastructure to date and encourages Malaysian companies to invest in AI and leverage the infrastructure. Skyworld Development Bhd is acquiring a 25.9-acre parcel of land in Batu Kawan, Penang, for RM48.51mn as part of a previously announced joint development to build affordable housing units in the state. Ho Wah Genting Bhd has redesignated executive director Lim Wee Kiat as its chief executive officer, effective July 7. Bina Puri Holdings Bhd said two of its wholly owned subsidiaries have been served with winding-up petitions by the government, via the Inland Revenue Board, for failing to settle outstanding tax liabilities. Sapura Energy Bhd will convene an extraordinary general meeting on July 30, 2025, for shareholders to vote on its proposed regularisation plan aimed at restoring the company's financial health and exiting Practice Note 17 status. Sabah-based plantation company NPC Resources Bhd will be delisted from Bursa Malaysia effective July 11. Aeon Credit Service (M) Bhd 's net profit fell by 27.1% to RM77.6mn in 1QFY26 ended May 31, 2025, from RM106.4mn a year ago. This was largely due to a RM15.9mn loss from its associate, Aeon Bank.
Malaysian Reserve
09-07-2025
- 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)
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.
