KUALA LUMPUR: Property developer and construction firm Bina Darulaman Bhd announced that its wholly-owned unit BDB Infra Sdn Bhd has accepted a RM209.9 million contract from the Public Works Department of Kedah to maintain state roads in 10 districts in Kedah for three years, starting from today.
In a filing with Bursa Malaysia yesterday, Bina Darulaman said the letter of award was accepted on June 3, and the contract will require the company to maintain the roads in the districts of Kota Setar, Padang Terap, Kuala Muda, Sik, Kubang Pasu, Kulim Bandar Baharu, Pendang, Yan and Baling.
“The project is expected to contribute positively to the group’s earnings for the financial years ending Dec 31, 2015 (FY15) until FY18,” the group said in a filing.
According to Bina Darulaman, BDB Infra — formerly Bina & Kuari Sdn Bhd — is a Class A contractor, with 40 years of experience in road construction.
Bina Darulaman (fundamental: 1.2; valuation: 2.6) is controlled by the Kedah state government via Perbadanan Kemajuan Negeri Kedah with a 67.28% stake.
This article first appeared in The Edge Financial Daily, on June 10, 2015.