PETALING JAYA: Bina Darulaman Bhd (BDB) is planning to venture into three new business segments, adding to its current two business portfolios, starting in 2023 and beyond with the aim to further strengthen its resilience and future-proof revenue and profitability.
The new segments – agriculture, renewable energy and telecommunications – were viewed as resilient throughout the pandemic phase, said acting president and group chief executive officer Mohd Iskandar Dzulkarnain Ramli.
“The pandemic in 2020 and 2021 demonstrated that our core businesses were highly vulnerable to lockdowns and movement control orders.
“We are currently undertaking studies to identify and determine the feasibility of adding these business sectors to achieve sustainable revenue,” he said at the group’s second quarter 2022 (2Q22) briefing.
BDB’s current core businesses are property and engineering, construction and quarrying (ESQ), with both divisions posting revenues of 37% and 62%, respectively, in the quarter, said Mohd Iskandar.
The group registered a net profit of RM1.13mil in 2Q22 against a net loss of RM2.84mil in the same period a year ago, while revenue rose to RM51.62mil from RM41.93mil previously.
He said the improved revenue and profitability over the previous quarter are attributed to better contributions from its road construction activities and property division.
“Our substantial pipeline of property development and construction projects, such as state road maintenance works, the Pelubang water treatment plant, Darulaman Lagenda, and Aman Perdana projects, coupled with our track record of delivering projects on time and on budget, bodes well for our ability to secure more contracts in the second half of 2022 and 2023,” he added.
To date, its total order book for property and ESQ stood at RM1bil and RM519mil, respectively. — Bernama