Bintai Kinden gets PLUS award to develop 103-acre Ayer Keroh land with RM296.5m GDV

PETALING JAYA (Aug 19): Bintai Kinden Corp Bhd has received a letter of award following a tender by PLUS Malaysia Bhd for the proposed development of two land parcels totalling about 103 acres in Ayer Keroh, Melaka, with an estimated gross development value (GDV) of RM296.54 million.

In a Bursa Malaysia announcement on Wednesday (Aug 19), the mechanical and electrical (M&E) engineering and construction group said its wholly owned subsidiary Kejuruteraan Bintai Kindenko Sdn Bhd (KBK) was awarded the tender on Aug 12.

The parcels, located outside the PLUS highway right of way, are earmarked for proposed residential and commercial development.

Subject to obtaining the requisite regulatory approvals, KBK will undertake the development and construction works for the project.

Bintai Kinden said the project is expected to contribute positively to the group’s earnings from the financial year ending March 31, 2029 onwards.

The announcement did not state the proposed development timeline, land tenure or commercial terms of KBK’s development arrangement with PLUS.

Separately, Bintai Kinden posted a net profit attributable to owners of RM1.61 million for the first quarter ended June 30, 2026 (1QFY2027), reversing a net loss attributable to owners of RM3.88 million a year earlier.

Quarterly revenue rose 78% to RM13.52 million from RM7.59 million, while profit before tax stood at RM1.51 million, compared with a loss before tax of RM3.93 million a year earlier.

Revenue from its M&E segment increased to RM9.83 million from RM4.04 million, mainly due to higher progress billings from construction activities. The segment recorded a profit before tax of RM340,000, reversing a RM1.47 million loss a year earlier.

Bintai Kinden said it secured RM44.65 million worth of new M&E contracts during the quarter. As at June 30, it had nine ongoing projects, comprising three M&E projects and six construction projects, with order-book balances of about RM61.69 million for M&E works and RM119.60 million for construction works.

No interim dividend was declared.

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