This article first appeared in The Edge Financial Daily on January 23, 2019

KUALA LUMPUR: Bina Puri Holdings Bhd’s joint venture (JV) with Tim Sekata Sdn Bhd has bagged a RM251.53 million contract for subcontract works for the electrified double track project from Gemas to Johor Baru.

Bina Puri group executive director Datuk Matthew Tee said with the latest award, the group’s unbuilt order book stands at RM1.145 billion.

“We anticipate this year to be challenging for the construction and property sectors and hope the roll-out of projects as announced in Budget 2019 can be expedited,” it added.

In a filing with Bursa Malaysia yesterday, Bina Puri said its indirect wholly-owned subsidiary Bina Puri Builder Sdn Bhd accepted the letter of award from Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd last Tuesday for the proposed job.

Under the project, an unincorporated JV called Bina Puri-Tim Sekata JV will undertake and complete the subcontract works, expected to be completed by April 30, 2020.

“The work scope includes earthworks for track diversion, building platform and track embankment, ground treatment, surcharging, sand blanket, sub-ballast, retaining structure, trackside drainage, track culvert and river protection.

“The project is expected to contribute positively to Bina Puri Group’s net assets and earnings for the financial year ending Dec 31, 2019,” said Bina Puri.