The company expects 2011 to be one of its better years since its listing in 1995, says Bina Puri's group managing director- BINA Puri Holdings Bhd (5932), which is expanding its business, is bullish that revenue will surpass RM1 billion this year, its chief said- "This year is all about execution of projects and finishing existing jobs- We expect 2011 to be one of our better years since our listing in 1995," group managing director Tan Sri Tee Hock Seng told Business Times- In 2010, Bina Puri secured projects worth RM2-5 billion- Among the contracts it won were the Ampang light rail transit line extension, the low-cost carrier terminal in Sepang, the Kuala Lumpur-Kuala Selangor Expressway privatisation project and building ramps and a main line bridge for the Eastern Dispersal Link in Johor- The company hopes to maintain the rate of new contracts this year by securing RM2-5 billion worth of work- It has bid for building and infrastructure projects worth over RM2 billion, in Malaysia, Thailand, Brunei and the Middle East- For the nine months ended September 30 2010, Bina Puri posted a net profit of RM8-13 million on revenue of RM861 million- In 2009, Bina Puri made RM6-4 million on revenue of RM780-1 million- Tee said the company's order book of RM3-3 billion will help improve its earnings for the next two to three years- Meanwhile, Tee said Bina Puri is on a drive to expand its property division, which contributes less than 10 per cent to its revenue and net profit- Bina Puri ventured into property development in the 1980sas a boutique developer- Some of its prime projects include Bukit Idaman township in Selayang and Jesselton Condominium in Kota Kinabalu, Sabah- Tee expects contribution from the division this year to be in the region of 15 per cent with RM900 million worth of housing projects in Klang Valley, Johor and Sabah- "We want to expand the division because of the higher margins that can be made from property development- We don't want to be too dependent on construction, which is harder to take on," Tee said- ...
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