Bina Puri to refurbish and operate serviced apartments in Brunei

KUALA LUMPUR: Bina Puri Holdings Bhd has entered into an agreement with the Brunei Economic Development Board on Aug 17 to undertake extensive interior and exterior work on three apartment blocks and its common areas, and turn them into fully furnished serviced apartments in Bandar Seri Begawan, Brunei.

In its filing to Bursa Malaysia on Thursday, Aug 19, Bina Puri will operate the serviced apartments for 20 years and will eventually invest RM21.46 million into the project.

The group, however, does not expect any contribution to the earnings for its financial year ending Dec 31, 2010.