Bina Puri JV bags contract from Nepal Supreme Court

by TMR / pic by TMR FILE

BINA Puri Holdings Bhd has announced that its 20% joint venture (JV) company, Bina Puri-Kalika-Samanantar JV, has been awarded a contract by the Supreme Court of Nepal on the construction of a supreme court building complex at Ramshahpath, Kathmandu.

The company, in a Bursa Malaysia filing today, said the contract period will be for 36 months commencing from April 1, 2021. The contract value is NRs 5.2 billion (RM183 million).

The contract is expected to contribute positively to the earnings and net assets of the Bina Puri Group for the financial years ending June 30, 2021, June 30, 2022, June 30, 2023, and June 30, 2024.

Bina Puri shares were down by half a sen or 5.3% at midday break at 9 sen, valuing the company at RM103.41 million.