Bintai Kinden's Revenue Increases

Azri Azerai, Executive Director of Bintai Kinden says the company will continue to leverage on our core M&E engineering specialisation to seek opportunities in Malaysia and around the region

Bintai Kinden's Revenue Increases

PETALING JAYA, Malaysia, Aug 27, 2022 -- Mechanical and electrical (M&E) engineering services specialist Bintai Kinden Corporation (Bursa: BINTAI, 6998) today announced that the Company registered a 152.0% increase in revenue to RM30.88 million for the first quarter ended 30 June 2022 (1Q FY2023).

This is in comparison with RM12.26 million in the corresponding quarter of the previous financial year (1Q FY2022) mainly due to higher contribution from M&E engineering business.

Bintai Kinden reported a profit after tax (PAT) of RM968,000 for the quarter under review, which is 23.0% lower than the PAT of RM1.25 million recorded in 1Q FY2022 as gross profit margin decreased to 16.45% from 30.0% after taking into account variation orders from completed M&E projects.

HWG Digital Signs MOU With Blockchain Developer SotaTek
Both parties will explore the possibility of collaborating in blockchain technology such as non-fungible tokens (NFT), metaverse and digital assets

Revenue Distribution

The Company's M&E engineering business contributed RM26.43 million for 1Q FY2023, which is an increase of 203.72% compared with RM8.7 million in 1Q FY2022.

The concession business brought in RM3.6 million, a marginal increase compared with RM3.55 million. Bintai Kinden operates the entire in-campus accommodation for Universiti Melaka as part of a 25-year concession from Kolej Teknologi Islam Melaka Berhad (KTIMB).

As of 31 March 2022, KTIMB owes Bintai Kinden an outstanding sum of RM30.18 million from the concession.  (ACN Newswire)