Bina Puri seeks Corporate Debt Restructuring Committee's help to mediate talks with lenders

• The move is part of the company's effort to "restore itself to a solid financial position and effectively address its liabilities to ensure future sustainability" said Bina Puri, whose businesses include property development, highway concessions and power supply.

KUALA LUMPUR (Aug 8): Bina Puri Holdings Bhd (KL:BPURI), which faces  multiple winding-up petitions, said it has sought the Corporate Debt Restructuring Committee's assistance (CDRC) to mediate between the company and its lenders.

The move is part of the company's effort to "restore itself to a solid financial position and effectively address its liabilities to ensure future sustainability" said Bina Puri, whose businesses include property development, highway concessions and power supply.

"Since April 2025, Bina Puri has been engaging its lenders to negotiate a debt restructuring scheme acceptable to all its lenders. The company believes that the involvement of CDRC to mediate is necessary at this juncture," the company said in a filing with Bursa Malaysia on Friday.

CDRC, which operates under the purview of Bank Negara Malaysia, serves as a platform for corporate borrowers and their creditors to negotiate debt resolutions out of court.

Bina Puri said the committee will facilitate the restructuring of the company’s financing facilities in line with its code of conduct. Under the process, the company must present a proposed restructuring scheme to its lenders within 60 days.

The process also comes with a six-month standstill period—a temporary freeze during which lenders agree not to initiate legal proceedings or recovery actions, unless extended at CDRC's discretion.

In 2025 alone, Bina Puri faced at least five winding-up petitions. The most recent one involved two wholly-owned subsidiaries that received petitions from the Inland Revenue Board for unpaid taxes up to RM5 million in total.

In May, subsidiary Bina Puri Sdn Bhd was served with a petition by Fujifilm Business Innovation Asia Pacific Pte Ltd over RM309,129 in alleged debt—an amount Bina Puri said was already covered under a court-sanctioned scheme of arrangement. That petition was withdrawn two days ago.

Meanwhile in April, Bina Puri faced a petition from Wisma Majujaya Sdn Bhd over RM30 million awarded in a summary judgment linked to a disputed Johor Bahru joint venture—a claim Bina Puri has contested.

Earlier in February, Export-Import Bank of Malaysia Bhd sought to wind up Bina Puri over unpaid sums of US$4.9 million (RM21.75 million) and RM17,253. The company said it was negotiating a settlement.

Shares of Bina Puri closed unchanged at 37.5 sen on Friday, valuing the group at RM306.2 million.

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