Binastra Corp Secures RM256.45 Million Data Centre Fit-Out Contract in Bukit Jalil
Binastra Corp Bhd (KL) has secured a RM256.45 million contract for mechanical and electrical (M&E) fit-out works at a data centre along Jalan Jalil Perkasa, Bukit Jalil, Kuala Lumpur. This new job, awarded by Exsim Jalil Link Sdn Bhd, a subsidiary of the Exsim Group, marks another milestone for Binastra as it expands its expertise into specialised construction projects.
The contract, secured through Binastra’s wholly owned subsidiary Binastra Builders Sdn Bhd, involves the design, construction, completion, testing, and commissioning of M&E fit-out works for the data centre.
Two-Phase Project Timeline
The project will be executed in two phases:
- Phase One: Completion within nine months of commencement.
- Phase Two: Completion within 24 months of commencement.
The start date for the project is yet to be confirmed.
Complementary to Phase 2 Development Works
This latest contract follows the RM574.4 million Phase 2 data centre development works awarded to Binastra in early September by the same client, which is scheduled for completion within 16 months from October 1, 2024. Together, these contracts underline Binastra’s growing involvement in data centre construction, a booming segment in the construction industry.
Impact on Financials and Order Book
The new contract is expected to contribute to Binastra’s income stream over the next three financial years. For its financial year ending January 31, 2025, the company has already secured RM2.7 billion in new contracts, bringing its total outstanding order book to RM3.5 billion.
Strategic Shift and Future Prospects
Managing Director Datuk Jackson Tan Kak Seng highlighted the significance of the contract:
“Transitioning from traditional construction to undertaking specialised M&E works amid the data centre boom reflects the strong confidence our client has in our capabilities. With this 12th contract under our belt, the group remains committed to elevating its expertise and expanding into various sub-sectors to unlock new milestones in the construction industry.”
Tan expressed optimism about the company’s future, adding, “We look forward to delivering more good news as the group strives towards greater heights.”
Market Performance
Binastra shares closed at RM1.53 on Tuesday, down two sen or 1.29%, with a market capitalisation of RM1.67 billion. Despite the slight dip, the stock has seen significant growth, surging 85 sen or 125% year-to-date.
