Bina Puri targets RM1 bil worth of project wins in 2016

KUALA LUMPUR (Jan 13): Bina Puri Holdings Bhd targets to secure construction projects worth RM1 billion this year, from both overseas and domestic market.

"We are confident of securing RM1 billion worth of construction projects, based on our previous track record," its group executive director Matthew Tee (pictured) told pressmen in a media briefing today, adding that the group secures projects in excess of RM1 billion on a yearly basis.

He said that currently, Bina Puri has ongoing projects worth RM3.4 billion and an outstanding orderbook of RM1.89 billion.

Out of this, he said 87% of these ongoing projects are from Malaysia, while the remaining are from overseas.

Among the ongoing construction projects, include the construction of two main control buildings and four labs and civil work in Petronas complex in Pengerang, Johor (RM234.12 million), civil works at Rapid Steam Cracker Complex in Pengerang, Johor (RM94.94 million), Kompleks LKlM in Kuching (RM247.8 million), Bunus Regional Sewage Treatment Plant in Kuala Lumpur (RM291.1 million), Movenpick Spa Resort in Kuala Terengganu (RM1,285 million), and Medini Twin Towers in lskandar, Johor (RM195 million).

On the property front, Tee said the group has ongoing property projects worth RM3.54 billion in gross development value (GDV), which includes The Opus Residence, Jalan Tallala, Kuala Lumpur worth RM400.3 million; Riveria Sentral in Kuala Lumpur valued at GDV RM1.288 billion; Sentosa Puri Tower, Kota Bharu with a GDV of RM195.5 million; and AEC Park, Thailand, worth RM181.2 million.

Meanwhile, Tee said the group is in the midst of listing its utilities business in Indonesia.

"We expect to submit our application in February this year, and to list our business on the lndonesia Stock Exchange by June 30 this year," he added.

Tee said the group currently has a total of 28MW capacity of micro diesel generated power plants at eight locations in lndonesia. -- theedgemarkets.com