Bina Puri bags RM100 mil island resort contract in Terengganu

KUALA LUMPUR (Aug 18): Bina Puri Sdn Bhd, a wholly-owned subsidiary of Bina Puri Holdings Bhd has been awarded a contract to design and build a RM100 million island resort in Pulau Poh, Kenyir Lake in Terengganu.

“This project is unique as the vendor has requested eco-friendly structures that require less maintenance and also design and interior decorations that exude peace and tranquillity,” said group executive director Matthew Tee in a press release today.

The company won the contract from the Terengganu State Public Works director on June 22, 2015, he added.

This resort, which is yet to be named, will be eco-friendly and will have 150 rooms, a banquet hall that can hold up to 300 guests, restaurant, retail areas and a swimming pool.

The resort is due for completion in three years.

According to the group, the Kenyir Lake project is expected to contribute positively to the assets and earnings of Bina Puri Holdings for the financial year ending Dec 31, 2015.

The Terengganu state government is promoting Kenyir Lake as a major tourist attraction and part of the state’s plan to declare it as the first duty-free lake in the world later this year.

Pulau Poh attracts 400,000 tourists per annum. Terengganu’s latest attraction is the Kenyir Water Park, which covers 24ha and officially opened on May 31, 2015.

Bina Puri Holdings has also secured another contract worth RM128.5 million, to construct a spa resort -- the proposed Movenpick Spa Resort in Kuala Terengganu.

The contract was awarded by Success Diar Sdn Bhd, which entails the construction, supervision, testing and commissioning and completion of eight blocks of 2-, 3- and 5-storey buildings, nine pavilions, a spa and a multipurpose building and related facilities located on a 10ha beachfront site at Chendering Beach, Kuala Terengganu.

Bina Puri Holdings’ unbilled book order stands at RM2.72 billion to-date, which includes the two recent secured contracts.

The group has secured RM838 million worth of projects in 2015 and it believes there will be more opportunities to secure more work by year end.