KUALA LUMPUR (Dec 18): Bina Puri Holdings Bhd bagged a project from Malaysia's Energy Commission to develop a 5MW solar photovoltaic plant in Kunak, Sabah under the commission's large-scale solar plant initiative.

In a statement today, Bina Puri said it secured the project through its wholly-owned subsidiary BP Energy Sdn Bhd. Bina Puri said BP had on Dec 4 this year accepted the commission's letter of acceptance for the project.

Today, Bina Puri group executive director Datuk Matthew Tee Kai Woon said: “We are indeed very positive and planning to add more solar farms and mini hydro powers onto our power portfolio. The project is on build-own-operate (BOO) basis, is located in Kampung Dasar in Kunak and all the documentation is expected to be finalised by March 2018.

“This is Bina Puri’s first power project in Malaysia after the successful listing of our power subsidiary in the Indonesia Stock Exchange (IDX) in June 2017," Tee said.

He said while construction remains Bina Puri's biggest top line contributor in financial year ended Dec 31, 2016 (FY16),
the company believes contribution from other business divisions especially power supply will increase in FY17 and FY18.

“Prospects will be better for the company moving forward and with our combined strength and expertise, we are devoted to take this journey to the next level to enhance our shareholders’ value,” Tee said.

According to Bina Puri's statement, the company's diverse businesses include property development, highway concession and manufacturing of construction materials.