Bina Darulaman bags RM209.9m Kedah road maintenance job

by **Cals** Tue 09 Jun 2015, 21:47

Bina Darulaman bags RM209.9m Kedah road maintenance job

KUALA LUMPUR (June 9): Property developer and construction firm Bina Darulaman Bhd announced that its wholly-owned unit BDB Infra Sdn Bhd has accepted a RM209.9 million contract from the Public Works Department of Kedah to maintain state roads in 10 districts in Kedah for three years, starting from June 10 (tomorrow).
In a filing with Bursa Malaysia today, Bina Darulaman said the letter of award was accepted on June 3 and the contract will require the company to maintain the roads in the districts of Kota Setar, Padang Terap, Kuala Muda,Sik, Kubang Pasu, Kulim ([You must be registered and logged in to see this image.] Financial Dashboard), Bandar Baharu, Pendang, Yan and Baling.
“The project is expected to contribute positively to the group’s earnings for the financial years ending Dec 31, 2015 (FY15) until FY18,” the group said in a filing.
According to Bina Darulaman, BDB Infra — formerly Bina & Kuari Sdn Bhd — is a Class A contractor, with 40 years of experience in road construction.
Bumi Darulaman (fundamental: 1.2; valuation: 2.6) is controlled by Kedah state government via Perbadanan Kemajuan Negeri Kedah with a 67.28% stake.
The stock has fallen 61.2% from RM2.191 on Nov 5, 2014 to close at 85 sen today, giving it a market capitalisation of RM258.3 million.
(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)