BINASTRA Corporation Bhd announced that it has secured a data centre (DC) project in Cyberjaya worth RM250m from MYT DC3 Sdn Bhd for AIMS Group (AIMS). This marks its third DC contract and from a new client. Binastra Corp secured this project over Gamuda, the previous incumbent contractor.This contract wins brings latest orderbook to RM3.9b. The project scope covers the construction of a 6-storey DC, including supporting facilities such as a guard house and refuse room. The mechanical, electrical and plumbing (MEP) components will be only partially fitted. The contract tenure spans from Feb25 to Dec25. We reiterate our BUY rating and 12-months target price of RM2.30, based on an unchanged target 18x multiple on FY26E earnings per share (EPS). We like Binastra Corp for its strong competitive advantage as a preferred contractor with key clients and superior profit margins. – Phillip Research Sdn Bhd (Feb 13, 2025)