Latest news with #BinastraBuildersSdnBhd
The Star
6 hours ago
- Business
- The Star
Binastra bags RM132mil Exsim contract
PETALING JAYA: Binastra Corp Bhd 's wholly-owned subsidiary, Binastra Builders Sdn Bhd, has accepted a contract worth RM132mil from Exsim Lumba Kuda Sdn Bhd to undertake earthworks, piling, pile cap and diaphragm wall works for a proposed 63-storey serviced apartment development. Called the Causewayz Square @ JBCC, the structure will comprise a total of 4,525 units across four residential towers in Johor Bahru. Construction is scheduled to begin on Sept 2 and targeted for completion within 16 months, Binastra stated in a release yesterday. This is the fourth contract awards in Johor Baru year-to-date for a total value of RM628.8mil. Binastra's year-to-date contract awards have reached RM1.5bil while its total outstanding order book stands at RM4.5bil.
New Straits Times
17 hours ago
- Business
- New Straits Times
Binastra secures RM132mil piling works contract in Johor
KUALA LUMPUR: Binastra Corporation Bhd's wholly owned subsidiary Binastra Builders Sdn Bhd has accepted a contract worth RM132.0 million from Exsim Lumba Kuda Sdn Bhd for a property development project in Johor. In a statement today, the group said the contract entails earthworks, piling, pile cap, and diaphragm wall works for a proposed 63-storey serviced apartment development, Causewayz Square @ JBCC, in Johor Bahru, comprising a total of 4,525 units across four residential towers. It added that the construction is scheduled to begin on Sept 2, 2025, and is targeted for completion within 16 months. Binastra Corporation managing director Datuk Jackson Tan Kak Seng said that to date, the group had secured four contract awards in Johor Bahru, comprising two main building works and two substructure and piling works across three major property developments, with a total value of RM628.8 million. He added that the group was also actively exploring opportunities to participate in the related main building works, which, if successful, would collectively deliver over 11,000 residential units, inclusive of future phases launch. "This will further underscore Binastra's strong capabilities in meeting the strong housing demand in the southern region," Tan said.
The Star
18 hours ago
- Business
- The Star
Binastra secures RM132mil piling works contract
PETALING JAYA: Binastra Corp Bhd 's wholly-owned subsidiary, Binastra Builders Sdn Bhd, has secured a RM132mil contract from Exsim Lumba Kuda Sdn Bhd. In a filing with Bursa Malaysia, Binastra said the contract covers earthworks, piling, pile cap, and diaphragm wall works for a proposed 63-storey serviced apartment development with 4,525 units in Johor Bahru. The contract will commence on Sept 2, 2025 and is scheduled for completion within 16 months. 'To date, we have secured four contract awards in Johor Bahru, comprising two main building works and two substructure/ piling works across three major property developments, with a total value of RM628.8mil,' managing director Datuk Jackson Tan Kak Seng said in a separate statement. With this latest win, Binastra's year-to-date contract awards have reached RM1.5bil, lifting its total outstanding order book to RM4.5bil.
The Star
09-07-2025
- Business
- The Star
Trading ideas: Alliance, Binastra, YTL Power, SkyWorld, Ho Wah, Bina Puri, Sapura Energy, NPC, Aeon Credit
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Alliance Bank Bhd said its rights issue of two new shares for every 17 shares held has been oversubscribed by 55.1%. Binastra Corp Bhd 's wholly-owned subsidiary Binastra Builders Sdn Bhd has secured a RM405mn construction job for The Queenswoodz residential project in Bukit Jalil, Kuala Lumpur. YTL Power International Bhd has invested about RM10bn in AI and AI infrastructure to date and encourages Malaysian companies to invest in AI and leverage the infrastructure. Skyworld Development Bhd is acquiring a 25.9-acre parcel of land in Batu Kawan, Penang, for RM48.51mn as part of a previously announced joint development to build affordable housing units in the state. Ho Wah Genting Bhd has redesignated executive director Lim Wee Kiat as its chief executive officer, effective July 7. Bina Puri Holdings Bhd said two of its wholly owned subsidiaries have been served with winding-up petitions by the government, via the Inland Revenue Board, for failing to settle outstanding tax liabilities. Sapura Energy Bhd will convene an extraordinary general meeting on July 30, 2025, for shareholders to vote on its proposed regularisation plan aimed at restoring the company's financial health and exiting Practice Note 17 status. Sabah-based plantation company NPC Resources Bhd will be delisted from Bursa Malaysia effective July 11. Aeon Credit Service (M) Bhd 's net profit fell by 27.1% to RM77.6mn in 1QFY26 ended May 31, 2025, from RM106.4mn a year ago. This was largely due to a RM15.9mn loss from its associate, Aeon Bank.
The Star
08-07-2025
- Business
- The Star
Binastra unit accepts RM405mil construction award in Bukit Jalil
KUALA LUMPUR: Binastra Corp Bhd 's wholly-owned subsidiary Binastra Builders Sdn Bhd has secured a RM405mil construction job for The Queenswoodz residential project in Bukit Jalil, Kuala Lumpur. The contract is deemed a related party transaction as the project owner, Exsim Jalil Link Sdn Bhd (EJL), is a company with shareholders in common with Binastra, including Binastra managing director Datuk Jackson Tan Kak Seng and executive director Lee Seng Yong. The contract is scheduled to be completed within 41 months from the date of commencement, said Binastra in a stock exchange filing. It is expected to provide additional income stream to the group over the next four years. According to Binastra, the job entails the construction of 43- and 44-storey apartment blocks with a combined 1,004 units. The project will also include a shop unit, two units of commercial spaces, eight levels of podium parking, one level of utility space including one main electrical substation and facilities for residents as well as a guardhouse. "This marks the continuation of our winning streak — the fourth project awarded to us as main contractor on this prime 17.9-acre land in Bukit Jalil. With this latest award, the cumulative contract value secured for all four projects now stands at approximately RM1.8bil," said Tan in a statement He said the group has secured RM1.4bil in new projects to date, bringing its total outstanding order book to RM4.6bil.
