KUALA LUMPUR: Binastra Corporation Bhd’s subsidiary Binastra Builders Sdn Bhd has accepted a RM327.7 million letter of award from Exsim Bukit Jalil City Sdn Bhd.

In a statement today, the group said that as a result, Binastra has secured RM3.1 billion worth of contracts for the financial year to date, surpassing its RM3.0 billion target for the financial year ending Jan 2025.

The contract entails the proposed development of two 58-storey serviced apartment, to be located in Kuala Lumpur, comprising 1,138 units and seven strata shop units, amongst others.

Construction, scheduled to commence on Dec 9, 2024, is targeted for completion within 42 months.

Binastra managing director Datuk Jackson Tan Kak Seng said since the new management team took the helm in early 2023, our vision has been clear, which is to elevate Binastra’s brand in line with the tagline “Build with Pride”.

“Our solid foundation in the construction industry for over 40 years, along with the unwavering support of our clients, has been pivotal in achieving these milestones.”

“Looking ahead, we anticipate 2025 to be a strong year as we actively pursue opportunities in Johor Bahru, where we see thriving construction activities, while exploring more engineering, procurement, construction and commissioning (EPCC) projects,” he added.

To date, Binastra’s total outstanding order book stands at an all-time-high of RM3.7 billion, providing robust earnings visibility for the next five financial years.

Source: NST, 03 Dec 2024