KUALA LUMPUR: Bina Puri Holdings Bhd has bagged a RM128.5 million contract to build a spa resort to be known as Movenpick Spa Resort in Kuala Terengganu, Terengganu.

In a filing with Bursa Malaysia yesterday, Bina Puri (fundamental: 0.15; valuation: 1.8) said its wholly-owned subsidiary Bina Puri Sdn Bhd had on Feb 27, 2015 received a letter of award from Success Diar Sdn Bhd to undertake the proposed project. It added that the project is expected to contribute positively to the net assets and earnings of Bina Puri Group for the financial year ending December 2015.

In a statement yesterday, Bina Puri group managing director Tan Sri Tee Hock Seng said with this latest contract, the group’s unbuilt order book stands at RM1.86 billion as at to date.

“We are confident of securing more projects in the upcoming year,” he said. He added that the Bina Puri group has been actively participating in the tender for projects both local and overseas, but he did not elaborate.

Located on a 25-acre (10ha) beachfront site at Chendering Beach, the proposed spa resort will feature eight blocks of 2-, 3- and 5-storey buildings, nine pavilions, a spa and a multipurpose building and related facilities.

The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations. Go to www.theedgemarkets.com for more details on a company’s financial dashboard.

This article first appeared in The Edge Financial Daily, on March 6, 2015.