Binastra’s 2Q net profit jumps on higher construction work activities
“As the national economy is projected to remain in the range of 4.
“As the national economy is projected to remain in the range of 4.
The building works include a five-storey data centre block, office spaces and electrical substation, among other facilities, Binastra said.
Its outstanding order book now amounts to RM2.
The latest contract win boosts Binastra's year-to-date new contract total to RM1.
The construction firm said the contract, secured via its wholly owned Binastra Builders Sdn Bhd, covers demolition and construction of main building works comprising four floors of offices (560 units), as well as two basement levels.
The group has 17 ongoing construction projects, with an outstanding order book of approximately RM1.
As of Jan 31 this year, Binastra had 15 ongoing construction projects, with an outstanding order book of RM1.
Shares of Binastra has climbed 75% since the beginning of this year, amid a broader rally in the construction sector, fuelled by optimism on the roll-out of major infrastructure projects by the government, and private contracts to build everything from homes to data centres.
The job scope covers the main building works of the development, comprising two 40-storey apartments — one with 757 units and the other with 743 units, as well as an eight-storey carpark.
Meanwhile, a separate filing showed that Binastra’s executive director Lee Seng Yong acquired the 30 million share block, raising his stake in the company to 14.