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boss kept buying from open market. another two weeks b4 the deadline for uni melaka settlement. this is the outstanding debts thay caused Bintai to fall into PN17 status.
seems UIMB is unable to settle the outstanding loan or to review a new charge rate and kept extending the timeline by dangling rm600k-700k monthly repayment which was at first owed to Bintai. good that Bintai set conditions for such extension and need to be agreed and approved by 29 June or else no more game play by UIMB.
Their tender pipeline is also quite sizeable, with around RM1.94 billion worth of M&E tenders and another RM143.25 million in construction tenders currently in the mix
classic post-PN17 turnaround re-rating play. PN17 exit validated, TNB contract win as blue-chip endorsement, earnings turning, order book + tender book providing forward visibility, multi-segment business with healthcare optionality.
BINTAI accepted RM44.65m TNB letter of award for transmission main intake maintenance (PMU 275/132KV) in Bukit Tengah, Penang. This is the GROUP'S FIRST TNB contract post-PN17 exit. TNB only engages reliable M&E contractors, so this contract is essentially TNB endorsement of BINTAI's recovered creditworthiness and execution capability
The healthcare arm specifically is interesting, Malaysia's hospital build-out and private healthcare expansion (think PMC Kulim, KPJ projects, gov hospital upgrades) all need medical gas delivery systems.
Second consecutive profitable quarter post-regularisation. 9M cumulative PAT RM4.19m vs prior year loss of RM0.63m. Active tender book RM577.81m provides forward visibility.
