Binastra hits new high after record-breaking quarter

Construction firm Binastra Corp Bhd has reached a new all-time high following a record-breaking second quarter. The company's net profit surged nearly 80% to RM50.6 million, while revenue rose by 66% to RM658.4 million for the quarter ending July 31, 2027. Binastra's stock reached RM2.52, a rise of 1.2%, before settling at RM2.50 on a market capitalisation of RM2.74 billion.

The group's order book now stands at RM6.7 billion, guaranteeing earnings for the next three to four years. A major contributor to the profit surge was the acquisition of a 51% stake in thermal energy firm LF Lansen Sdn Bhd and diversification into solar projects, which generated RM97.4 million in revenue. Binastra declared a first interim dividend of four sen per share, payable on October 16.

RHB Research predicts the company will secure over RM2 billion in new jobs for FY2027, with RM819.5 million already won this year. The focus will be on data centre and renewable energy projects following a successful debut in Johor Bahru last year. Binastra is the fifth-largest listed construction company in Malaysia, up 290% since the start of 2024. The firm is controlled by managing director Jackson Tan, who now holds a 52.35% stake.