Latest news with #TNJDevelopmentSdnBhd
Malaysian Reserve
3 days ago
- Business
- Malaysian Reserve
Binastra retains Buy, target price raised to RM2.30
Binastra Corporation Bhd secured a RM268m contract from TNJ Development Sdn Bhd, a subsidiary of CPI Land, for the main building works of Tuan Heritag3 (RM670m gross development value). The work scope covers the construction of a 45-storey apartment comprising 1,269 units in Segambut, KL. The contract is slated to commence in Aug 2025, with targeted completion by Dec 2027. We make no changes to our earnings forecast as this contract win falls within our replenishment assumptions. We reiterate our Buy rating and 12-month target price of RM2.30, based on an unchanged target 18x multiple on FY26E EPS. We continue to like Binastra for its strong competitive advantage as a preferred contractor with key clients and superior profit margins. Key downside risks include slower-than-expected order book replenishment, unforeseen delays, and project margin cost pressure. – Phillip Research Sdn Bhd (June 12, 2025) (Calls by analysts tracked by Bloomberg: 6 Buy, 0 Hold, 0 Sell; Consensus target price: RM2.22)
The Star
4 days ago
- Business
- The Star
Binastra wins RM268mil contract for 45-storey apartment project in KL
KUALA LUMPUR: Binastra Corp Bhd has secured a RM268mil construction contract from TNJ Development Sdn Bhd for the proposed development of a 45-storey suite apartment block. In a filing with Bursa Malayisa, Binastra said its wholly-owned subsidiary, Binastra Builders Sdn Bhd accepted a letter of award for main building works for the development in Segambut, Kuala Lumpur. The contract covers the main building works for a proposed 45-storey suite apartment block comprising 1,269 units, along with amenities and recreational facilities, podium parking, and a guardhouse. The contract will begin on Aug 15, 2025 and is scheduled for completion within 28 months from the start date. Binastra expects the contract to contribute positively its earnings and net assets per share for the financial years ending Jan 31, 2026 to 2028.
