BINTAI KINDEN SECURES RM22.3 MILLION SUB-CONTRACTS FOR DOUBLE-STOREY HOUSE PROJECT IN JOHOR

Company anticipates positive contribution to earnings over the next financial years

PETALING JAYA, 11 JUNE 2024 – Bintai Kinden Corporation Berhad ("BKCB" or the "Company"; Bursa: BINTAI, 6998), a mechanical and electrical (“M&E”) engineering services specialist, medical device manufacturer, and facilities operator, today announced that its wholly-owned subsidiary, Kejuruteraan Bintai Kindenko Sdn. Bhd. (“KBK”), has secured two sub-contracts valued at a total of RM22.3 million. These sub-contracts are for the construction of double-storey houses located in Mukim Jalan Bakri, Muar, Johor, awarded by Lu Chin Poh Construction Sdn. Bhd. ("LCPC").

The first sub-contract, valued at RM7.6 million, involves the construction of 8 units of double-storey semi-detached houses, while the second sub-contract, valued at RM14.7 million, includes the construction of 21 units of double-storey terrace houses, both together with related infrastructure works.

Both projects have a construction period set for 15 months, with an expected completion date by 1st September 2025.

Datuk Tay Chor Han, Managing Director cum CEO of Bintai Kinden, commented, “We are pleased to have secured these sub-contracts, which are expected to contribute positively to our earnings over the next two financial years. These projects reflect our ongoing commitment to expanding our footprint in the construction sector and leveraging our expertise to deliver quality engineering solutions.”

The successful wins of these projects will positively contribute to the financial performance of Bintai Kinden Corporation Berhad ahead, enhancing shareholder value and driving future growth. As at 5:00 P.M., 11 June 2024, the share price of BKCB closed at 8.5 sen, showcasing a market capitalisation of RM103.7 million.