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The Sun
25-05-2025
- Business
- The Sun
Bintai Kinden completes regularisation, lays foundation for future growthj
PETALING JAYA: Bintai Kinden Corporation Bhd, a mechanical and electrical (M&E) engineering services specialist, construction contractor, medical device manufacturer and facilities operator, has announced its financial results for the fourth quarter and the financial year ended March 31, 2025, alongside the successful completion of its proposed regularisation plan, a significant milestone towards the company's recovery and future growth. For Q4'25, Bintai Kinden posted revenue of RM7.52 million, compared to RM7.63 million in Q4'24, primarily due to a decline in contributions from the M&E engineering segment following the termination of several legacy contracts. The construction segment, which has been reclassified in line with the company's strategic diversification, contributed RM2.5 million or 33.2% to total revenue. The concession segment remained a stable revenue base, contributing RM3.55 million for the quarter. The group said it remained focused on reinforcing its operational foundations and implementing strategic improvements to support long-term sustainability. However, for Q4'25, the group recorded a loss before tax of RM31.55 million, in contrast to a profit before tax of RM10.85 million in the previous financial year. The loss was primarily driven by a combination of elevated expected credit losses and several significant non-recurring items. These included a substantial provision for back-charges arising from the termination of previously awarded contracts, the reversal of a profit guarantee, and the recognition of fair value expenses related to share options granted to a director. While these one-off items have had a material impact on Bintai Kinden's financial performance for the year, they are not expected to persist in future periods. The group continues to take decisive steps to mitigate risk exposures, improve financial discipline, and restore profitability through enhanced operational efficiency and better cost management. Managing director cum CEO Datuk Tay Chor Han said, 'FY2025 has been a year of strategic reset for the group. While our financial performance reflects the challenging transition period, we are encouraged by the progress made in our diversification into the construction segment, and the continued stability of our concession business. Most importantly, the successful completion of our proposed regularisation plan lays a solid foundation for recovery. With improved financial discipline, a leaner capital structure, and stronger shareholder support, we are well-positioned to pursue our growth agenda moving forward.' The company confirmed the completion of its proposed regularisation plan. Following the successful listing of new placement shares on March 24 and the receipt of confirmation from the Companies Commission of Malaysia dated May 21 on the effectiveness of the proposed share capital reduction, Bintai Kinden's regularisation efforts are now deemed completed. This marks a critical step towards its eventual upliftment from Practice Note 17 status, subject to further regulatory review. Looking ahead, Bintai Kinden will continue to focus on project execution, strategic tendering, and disciplined cost management. With a construction order book of about RM127.3 million, M&E order book of about RM4.5 million and RM181.8 million worth of M&E-related tenders under evaluation, Bintai Kinden said it is poised to strengthen its position in Malaysia's recovering construction and engineering sectors.
The Sun
14-05-2025
- Business
- The Sun
Sarawak allocates RM3.55 billion to build modern govt quarters
SARIKEI: The Sarawak government has approved an allocation of RM3.55 billion, under the 13th Malaysia Plan (13MP), to develop modern government quarters across the state, said Premier Tan Sri Abang Johari Tun Openg. According to him, the initiative aims to safeguard the welfare of civil servants, particularly those serving in rural areas. The new government quarters will not only house state government officials, but will also be made available to federal officials, when necessary. 'For example, in my state constituency of Gedong, there are no quarters for on-duty doctors. As a result, we have had to rent houses from villagers. That's where the inspiration to build these modern quarters came from,' he told reporters, after officiating the Sarikei Division Government Administration Centre, today. Abang Johari said that the new quarters will be built in the form of apartments, and managed by a specialised agency. These quarters will be equipped with a security system, and a recreation centre to support the physical and mental well-being of civil servants. 'This is a new approach, so that government officials can serve the people better,' he added. Several sites have been identified and approved for construction by the Public Service Commission (SPA), with priority given to locations near government offices, and recreational facilities such as stadiums. Meanwhile, Abang Johari expressed satisfaction with the progress of development projects in the Sarikei Division, involving 200 government initiatives as of April 2025, with a total allocation of RM4.9 billion. These projects cover various sectors, including the construction of roads, bridges, and water and electricity supply. Among the completed key projects is the Sarawak Government Administration Centre in Sarikei, which houses the Resident's Office and various government agencies at a cost of over RM154 million. 'All these projects are progressing according to schedule, further strengthening the government's development planning in the area,' he said.
Barnama
14-05-2025
- Business
- Barnama
Sarawak Allocates RM3.55 Billion To Build Modern Govt Quarters
SARIKEI, May 14 (Bernama) -- The Sarawak government has approved an allocation of RM3.55 billion, under the 13th Malaysia Plan (13MP), to develop modern government quarters across the state, said Premier Tan Sri Abang Johari Tun Openg. According to him, the initiative aims to safeguard the welfare of civil servants, particularly those serving in rural areas. The new government quarters will not only house state government officials, but will also be made available to federal officials, when necessary. 'For example, in my state constituency of Gedong, there are no quarters for on-duty doctors. As a result, we have had to rent houses from villagers. That's where the inspiration to build these modern quarters came from,' he told reporters, after officiating the Sarikei Division Government Administration Centre, today. Abang Johari said that the new quarters will be built in the form of apartments, and managed by a specialised agency. These quarters will be equipped with a security system, and a recreation centre to support the physical and mental well-being of civil servants. 'This is a new approach, so that government officials can serve the people better,' he added. Several sites have been identified and approved for construction by the Public Service Commission (SPA), with priority given to locations near government offices, and recreational facilities such as stadiums. Meanwhile, Abang Johari expressed satisfaction with the progress of development projects in the Sarikei Division, involving 200 government initiatives as of April 2025, with a total allocation of RM4.9 billion. These projects cover various sectors, including the construction of roads, bridges, and water and electricity supply. Among the completed key projects is the Sarawak Government Administration Centre in Sarikei, which houses the Resident's Office and various government agencies at a cost of over RM154 million.
