Bina Puri on track to replenish orderbook of RM800 mln in FY14

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KUCHING: With the latest contract award for the construction of the Kuching Fishery Complex, Bina Puri Holdings Bhd (Bina Puri) is on track to replenish its construction orderbook of RM800 million in financial year 2014 (FY14).

The research arm of TA Securities Holdings Bhd (TA Research) in a report said the job win for Bina Puri is within its construction orderbook assumption of RM800 million for the firm this year.

The research firm estimated that the job could contribute a four per cent profit before tax (PBT) to Bina Puri, translating into RM9.9 million PBT throughout the duration of the construction period.

It noted that the duration of the project will take 36 months to be completed and construction of the project will only begin once the financial closing period of Pengkalan Ikan Central Sdn Bhd (PIC) and Bina Puri’s financier has been finalised.

In the meantime, TA Research observed that Bina Puri will undertake the piling, building, mechanical and electrical, civil and infrastructure, marina, landscaping, signages and furniture works for the project.

The research firm added facilities for the new fishery complex would include a marketing hall, a fishermen market, an administrative block, a multi-purpose hall, a central utility building, a canteen, a prayer’s hall, a fish box storage area, a jetty and a fuel distribution depot.

Meanwhile, Bina Puri had on April 15 announced on Bursa Malaysia that its wholly-owned subsidiary Bina Puri Construction Sdn Bhd has entered into a contract agreement with Blessed Builders Sdn Bhd and PIC for the planning, designing and building of the fishery complex.

The construction company said the contract value of the work is estimated at RM247.84 million. Its construction unbilled orderbook stands at RM1.93 billion after the latest job award.

Additionally, the company believed it has the ability to further secure more projects in 2014.