Bina Puri rises 2.56% on landing RM303m contract in Iraq

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KUALA LUMPUR (July 16): Bina Puri Holdings Bhd shares rose 2.56% this morning after it secured a contract worth RM303 million in Iraq.

At 9.08am, Bina Puri added 0.5 sen to 20 sen for a market capitalisation of RM76.41 million.

In a filing to Bursa Malaysia yesterday, Bina Puri said its unit Bina Puri Sdn Bhd had accepted a letter of award dated June 11, 2019 from Thi Qar Governate, Republic of Iraq, in respect of the proposed Dual Lane Road from Al-Islah Junction to Al-Jabayish at Nasirya City.

It said the contract was for a period of 36 months from date of commencement.

Bina Puri said with the latest contract, its project book order will increase to RM1.56 billion.

The group said the contract is expected to contribute positively to its earnings for the financial year ending June 30, 2020.