The Board of Directors of Bina Puri Holdings Bhd. (“BPHB” or “the Company”) wishes to announce that its wholly owned subsidiary of the Company, Bina Puri Sdn. Bhd. (“BPSB”) through its joint venture company, SPTK Joint Venture Company Limited (“SPTK JV Co. Ltd.”) won a bid for a package from the High-Speed Railway Project to connect regions in Bangkok – Nong Khai Section, (Phase 1 Bangkok - Nakhon Ratchasima Section), Contract No. 3-5 Civil Works for the Khok Kruat-Nakhon Ratchasima Section (“the Contract”).
The Contract value is THB7,750,000,000.00 (equivalent RM1.036 billion).
A total of 26 projects with approximate value of RM2.0 billion have been completed by Bina Puri in Thailand since 2003.
The Contract will have no material effect on the share capital and substantial shareholders’ shareholding of BPHB.
The Contract is expected to contribute positively to the earnings and net assets of the BPHB Group. With the latest award mentioned above, the Group's unbuilt book order stands at RM1.9 billion as at to date.
None of the Directors and Substantial Shareholders, persons connected to the Directors or Substantial Shareholders of the Company and its subsidiaries or persons connected thereto have any interest, direct or indirect in the Contract.
The Directors of the Company are of the opinion that the Contract is in the best interest of the Group.
This announcement is dated 7 October 2020.