Bina Darulaman group MD’s contract extended by two years

KUALA LUMPUR (Feb 16): Bina Darulaman Bhd’s group managing director Datuk Izham Yusoff’s contract has been extended by another two years, effective from this month.

In a statement to Bursa Malaysia today, the group said Izham assumed the role in February 2014 and has ensured steady growth for the company in the past three years, despite a challenging economic environment and tightening lending conditions.

Bina Darulaman Bhd (BDB) saw its net profit rise 61.4% to RM23.27 million or 7.65 sen a share in the fourth quarter ended Dec 31, 2016 (4QFY2016) from RM14.41 million or 4.74 sen a share a year ago, while revenue grew 45.4% to RM153.92 million in 4QFY2016 from RM105.84 million in 4QFY15.

“[Izham] had also initiated a transformation exercise by rebranding Bina Darulaman with the unveiling of a new identity in April 2015 which also marked the company’s 20th anniversary. His initiative to initiate the new brand had made BDB known outside Kedah,” the group added.

Bina Darulaman is principally involved in engineering and quarrying, as well as township and property development.

The group’s shares closed up half a sen or 0.65% higher to settle at 80 sen, giving it a market capitalisation of RM240 million. — theedgemarkets.com

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