Te company said the project is expected to contribute positively to the group’s earnings for the financial years ending 2023 until 2024.
PETALING JAYA: Bina Darulaman Bhd
(BDB) has won a RM34.08mil tender for a tertiary irrigation system development project in Kedah and Perlis.
In a filing with Bursa Malaysia yesterday, BDB said the project will involve strengthening and improving rice cultivation in the abovementioned states.
“The completion period for the project shall be 104 weeks from the date of site possession.
“Date of site possession is on Feb 27, 2023,” it said, adding that the total contract amount for the project does not include the sales and service tax amount.
BDB said the project is expected to contribute positively to the group’s earnings for the financial years ending 2023 until 2024.
BDB’s current core businesses are property and engineering, construction and quarrying.
For its third quarter ended Sept 30, 2022, BDB reported a net profit of RM1.12mil on revenue of RM55.86mil.
In its notes on its third quarter performance, the company said Malaysia’s economic growth will be supported by continued expansion in domestic demand.
“The economy would benefit from improved labour market conditions, the realisation of multi-year projects and higher inbound tourism activity.
“While external demand is expected to moderate, this will be partly cushioned by Malaysia’s diversified export base.”
BDB said the impact of economic growth is being felt in Kedah.
“Since 2020, Kedah has shown steady growth in investment. The northern state of Kedah has witnessed commendable investment of more than RM20bil approved investments as the second quarter of 2022 that will be materialised starting in 2023 onwards.
“The state is keen to facilitate and attract more local and overseas investments based on the Kedah Development Plan 2035.”
BDB added that the development and expansion of the new growth areas in Northern Kedah will help to boost the existing township’s value and unlock the remaining land banks’ potential value.
“The current joint venture development of the affordable housing project in Bandar Amanjaya, Sungai Petani is on track, while the development of the existing township in Bandar Darulaman continues to contribute positively to the group.”
Moving forward, BDB said it intends to boost its presence in Kedah and continue to support the state agenda.
“Internally, the group continues its operational improvement for a sustainable future.
“The group expects a satisfactory performance for the remainder of the current year,” it said.
The group, as a Kedah state government-linked company, said it will strive to ensure the success of the Kedah Development Plan.
“The current order book, such as the Pelubang Water Treatment Plant project, is currently in progress.
“This project is a catalyst for the development and expansion of the new growth areas in Northern Kedah with projects such as the Kedah Rubber City, Delapan Special Border Economic Zone in Bukit Kayu Hitam under Northern Gateway Sdn Bhd, Kedah Science and Technology Park and Bukit Kayu Hitam Halal Hub.”
