BINA PURI expects LoA for LCCT job ‘soon’

Bina Puri Holdings Bhd expects to receive a letter of award “soon” for the third package of Malaysia Airports Holdings Bhd’s new low-cost carrier terminal (LCCT) worth close to RM1 billion.

In a response to Bursa Malaysia’s query letter yesterday, Bina Puri clarified that it had not received the letter of award (LoA) for the construction project.

“However, we are liaising with Malaysia Airports Holdings Bhd. We expect to receive the letter of award soon. We will make the necessary announcement if and when we receive the letter of award,” it said.

Bina Puri was queried by Bursa Securities, following The Edge weekly’s report last weekend that a consortium led by Bina Puri had won the third package of the new LCCT construction job.

The Edge reported that the job, which was bidded by Bina Puri in a joint venture with UEM Group Bhd, is for the construction of the LCCT main terminal building. The JV had beaten the likes of heavyweights such as Malaysian Resources Corp Bhd and Sunway Construction Sdn Bhd to the job, according to the report.

Yesterday, Bina Puri extended its gains by closing five sen higher at RM1.19 with 180,800 shares changing hands. The stock had on Monday rose four sen to RM1.14.



This article appeared in The Edge Financial Daily, July 7, 2010.