Bina Puri JV company bags RM183m contract for construction work in Nepal

KUALA LUMPUR (April 20): Bina Puri Holdings Bhd said its 20% joint venture (JV) company has bagged a contract worth 5.2 billion Nepali rupee (RM183 million) for a new construction project in Nepal.

According to a bourse filing today, Bina Puri Kalika-Samanantar JV has been awarded the contract by the Supreme Court of Nepal for the construction of the Supreme Court Building Complex at Ramshahpath, Kathmandu.

Bina Puri said the contract period is 36 months, commencing April 1, 2021.

The group said the contract will have no material effect on the share capital and substantial shareholders’ shareholding of Bina Puri.

Furthermore, the contract is expected to contribute positively to the earnings and net assets of the Bina Puri Group for the financial year ending June 30, 2021 (FY21), FY22, FY23 and FY24.

At noon break, Bina Puri settled half a sen or 5.26% lower at nine sen with some 11.89 million shares done. This valued the group at RM79.93 million.

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