BDB analysing three sectors to venture into
SHAH ALAM - Bina Darulaman Bhd (BDB) is identifying and determining the feasibility of bringing food production, energy and telecommunication sector to their portfolio to increase its resilience and maintain company profits.
BDB President and Chief Executive Officer Mohd Iskandar Dzulkarnain Ramli said the three sectors could be made as BDB's core business if it could gain profits from it.
He said the Covid-19 pandemic in 2020 and 2021 showed the core business of the company were at risk caused by the Movement Control Order (MCO).
"The pandemic had shown that certain sectors would remain strong throughout the pandemic phase such as food production, energy and telecommunications.
"Personally we want the sectors to become the company's core business, but thorough analysis with the state of businesses post Covid-19 and such, we need to be careful.
"However, if the three sectors are encouraging and show a positive impact, why not?" he said during a press conference which tabled BDB's Second Quarter 2022 Financial Performance at Kuala Lumpur on Thursday.
Iskandar said BDB successfully recorded a profit of RM1.13 million in the second quarter of 2022 with an increase of 64 per cent compared to the previous quarter.
He said the company operated as usual and the revenue collected for the second quarter of 2022 increased to RM51.62 million compared to RM31.46 million previously.
"BDB revenue increased as much as 23 per cent compared to RM41.93 million recorded in the same quarter of 2021.
"The company's increasing positive financial performance recorded were caused by the full continuation of business activities and the high revenue contributions were from the road construction segment and the initiative from the Real Estate Development Division that were completed.
"BDB's engineering, construction and quarry (ECQ) division had recorded a high revenue of RM 31.62 million compared to RM19.63 million in the previous quarter with a 61 per cent increase," he said.
He said BDB is now undergoing projects on the construction and development of large-scale property developments such as the Maintenance of State Roads, Upgrading the Pelubang Water Treatment Plant (LRA) and property development projects such as Darulaman Legenda and Aman Perdana.
"With BDB's good track record where we completed projects on time and within the allocated time and budget was a good sign for us towards obtaining more contracts for the second half of 2022 and 2023.
"We have accomplished projects that could be said as unique and out of the core business of the company that was the Langkawi Designer Premium Outlet which had given additional value towards the Real Estate Development Division and ECQ," he said.
