Binastra wins RM160m office construction job in Damansara Perdana

• The construction firm said the contract, secured via its wholly owned Binastra Builders Sdn Bhd, covers demolition and construction of main building works comprising four floors of offices (560 units), as well as two basement levels.

KUALA LUMPUR (Aug 2): Binastra Corp Bhd (KL:BNASTRA) has bagged a RM160 million contract to demolish and build an office complex in Damansara Perdana from Dynamicz Sdn Bhd.

In a bourse filing, the construction firm said the contract, secured via its wholly owned Binastra Builders Sdn Bhd, covers demolition and construction of main building works comprising four floors of offices (560 units), as well as two basement levels. The job is expected to be completed by July 30, 2026.

“It is expected to contribute positively to the earnings and net assets per share of the group for the financial years ending Jan 31, 2025 to 2027,” it said.

Binastra, formerly known as Comintel Corp Bhd, exited Practice Note 17 (PN17) status in September last year and underwent rebranding under managing director and major shareholder Datuk Tan Kak Seng, who became a shareholder in December 2022.

Tan, who is also a substantial shareholder of property developer Maxim Global Bhd (KL:MAXIM), has been Binastra’s managing director since January 2023.

With the new win, the group now has an outstanding order book of approximately RM1.76 billion.

Shares in Binastra dropped 0.5 sen to RM1.21 as at noon trading break on Friday, giving the group a market capitalisation of RM1.31 billion.

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