English | 简体中文 | 繁體中文 | 한국어 | 日本語
Thursday, 24 November 2022, 14:00 HKT/SGT

Source: Bintai Kinden Corporation Bhd
Bintai Kinden Revenue Increased 136% in 2Q FY2023
Company assessing risks and opportunities to grow as an investment conglomerate

PETALING JAYA, Malaysia, Nov 24, 2022 - (ACN Newswire) - Bintai Kinden Corporation Berhad (Bursa: BINTAI, 6998), a mechanical and electrical (M&E) engineering services specialist, today announced that the Company registered a 136.6% increase in revenue to RM40.56 million for the second quarter ended 30 September 2022 (2Q FY2023) compared with RM17.14 million in 2Q FY2022 mainly due to higher contribution from M&E projects recovering from the negative impact of the COVID-19 pandemic.

Executive Director of Bintai Kinden, Azri Azerai

For the quarter under review, the Company's profit before tax (PBT) recorded a decline to RM193,000 compared with RM244,000 in 2Q FY2022 mainly due to higher cost. Gross profit margin for 2Q FY2023 stood at 15.35% compared with 43.06% in 2Q FY2022 after taking into account contribution by variation order of completed projects of the M&E business.

Bintai Kinden registered a 142.94% rise in revenue of RM71.44 million for the six months ended 30 September 2022 (1H FY2023) compared with RM29.41 million in the corresponding period of the previous financial year. PBT for 1H FY2023 declined to RM1.16 million compared with RM1.50 million reported in 1H FY2022.

En. Azri Azerai, Executive Director of Bintai Kinden said, "We consider the continuing growth in economic activities following two years of lockdowns as a positive sign for more opportunities in M&E engineering services in Malaysia and Southeast Asia where our focus remains. The growth in revenue in the quarter under review is proof of the continuing recovery which we do not take for granted as we assess the risks and opportunities to grow as an investment conglomerate by taking stakes in unique and niche businesses with huge potential."

"We are actively looking for more earnings accretive acquisitions. We are diversifying into the provision of telecommunication services to healthcare centres through a strategic venture under our indirect subsidiary, Johnson Medical International Sdn Bhd (JMI) that we announced earlier in November. We are also leveraging on JMI's healthcare solutions and medical support systems expertise to explore the Middle East, which is a growing market. Through our 51%-owned Bintai Energy Sdn. Bhd., we are in a partnership distributing flanges and other related piping products in Indonesia for oil and gas (O&G) projects."

Bintai Kinden's total orderbook is RM109.92 million, with RM102.43 million from M&E projects and RM7.49 million from O&G projects.

Bintai Kinden Corporation Berhad: 6998 [BURSA: BKC], http://bintai.com.my/

Topic: Press release summary
Source: Bintai Kinden Corporation Bhd

Sectors: Daily Finance, Energy, Alternatives, Daily News, Local Biz, Oil & Gas
From the Asia Corporate News Network

Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.


Bintai Kinden Corporation Bhd Related News
Oct 30, 2023 20:00 HKT/SGT
Bintai Kinden Announces RM3.5 Million Contract Win for Subsidiary Johnson Medical International
Mar 29, 2023 20:00 HKT/SGT
Bintai Kinden Pressures Melaka Government on Unimel Project Payments
Feb 28, 2023 19:00 HKT/SGT
Bintai Kinden Posts 9M Revenue of RM93.80 Million
Feb 10, 2023 18:00 HKT/SGT
Bintai Kinden Wins RM14.2 Million Project from TNB
Feb 7, 2023 14:10 HKT/SGT
SCIB and Bintai Kinden in Strategic Alliance
More news >>
Copyright © 2024 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Cookies Policy | Privacy Policy | Disclaimer | Terms of Use | RSS
US: +1 214 890 4418 | China: +86 181 2376 3721 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575