CEO Morning Brief

Bina Darulaman Secures RM34 Mil Contract From Agriculture Ministry

edgeinvest
Publish date: Fri, 10 Feb 2023, 08:48 AM
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TheEdge CEO Morning Brief

KUALA LUMPUR (Feb 9): Bina Darulaman Bhd, through its unit BDB Infra Sdn Bhd, has been awarded a RM34.08 million contract by the Ministry of Agriculture and Food Security to develop a tertiary irrigation system in Kedah and Perlis.

The project, which is aimed at strengthening and improving rice production in the states, is expected to contribute positively to the Kedah-based developer’s revenue in the financial years ending 2023 and 2024, the group said.

The completion period for the project is 104 weeks from the date of site possession on Feb 27, 2023, said the group in a bourse filing on Thursday (Feb 9).

Bina Darulaman trimmed its net loss to RM3.75 million in the nine-month period ended Sept 30, 2022 (9MFY2022), from RM5.84 million in the previous corresponding period, as revenue climbed to RM138.93 million from RM113.9 million.

Shares of Bina Darulaman settled one sen or 3.51% higher at 29.5 sen on Thursday, valuing the group at RM88.14 million.

Source: TheEdge - 10 Feb 2023

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