Bintai Kinden Corporation Berhad (“BKCB” or the “Company”; Bursa: BINTAI, 6998), a mechanical and electrical (“M&E”) engineering services specialist, medical device manufacturer and facilities operator, is pleased to announce that its wholly-owned subsidiary, Kejuruteraan Bintai Kindenko Sdn. Bhd. (“KBK”), has been awarded a contract valued at RM61.2 million by N&T Asset Sdn. Bhd. (“N&T”) for the construction of a comprehensive housing project in Mukim Jasin, Daerah Jasin, Melaka.
This award further strengthens Bintai Kinden’s portfolio in the construction sector and is expected to contribute positively to the Group’s earnings over the next four financial years.
Under this turnkey contract, KBK will serve as the main contractor responsible for the entire project scope, including underpinning, structural, mechanical and electrical (“M&E”) works, as well as infrastructure development on a design-and-build basis.
The project will involve the construction of 30 single-storey semi-detached houses, 90 single-storey cluster semi-detached houses, and 136 single-storey terraces. The contract also includes the development of 6 single-storey bungalow houses and 13 single-storey shop lot units, alongside critical infrastructure, including two substations, a centralised sewerage treatment plant, and an elevated water tank complete with a suction tank and pump house.
For information, the contract from N&T specifies an initial 12-month period dedicated to design, submission, and securing the necessary approvals from relevant authorities. This will be followed by an 18-month construction phase, culminating in a final 6-month period to obtain the Certificate of Completion and Compliance (“CCC”).
The entire project is scheduled for handover on or before 4th November 2027, amounting to a total contract value of RM61.2 million to be contributed to the next four financial years.
“This project is a testament to our expertise and capability in delivering large-scale, multifaceted construction projects. We are committed to executing this contract to the highest standards and delivering quality infrastructure to support the development of Melaka. This award not only enhances our project portfolio but also strengthens our revenue stream over the coming financial years, aligning with our growth strategy.” – Datuk Tay Chor Han, Managing Director cum CEO of BKCB.
Recently, BKCB secured a commitment from Universiti Islam Melaka Berhad to repay RM13.5 million to its subsidiary, Optimal Property Management Sdn Bhd, under a structured Extended Interim Settlement Proposal.
This agreement includes an initial minimum payment of RM5.2 million over the first four months, starting with a RM2.2 million installment on 31 October 2024, followed by monthly payments of RM1.0 million each in November, December, and January.
The structured repayments are expected to enhance BKCB’s cash flow and strengthen its financial standing, supporting its focus on sustainable growth.
This latest contract win is anticipated to further boost BKCB’s financial position, contributing positively to revenue over the next four financial years. The revenue generated from this project will provide critical support for BKCB’s regularisation plan, advancing the Company’s efforts to stabilise its financial foundation and work toward a potential upliftment from Practice Note 17 (“PN17”) status.
BKCB remains committed to fulfilling its contractual obligations while building a stronger financial base for future growth.
For more information, visit bintai.com.my.
