Annual Report - Bina Puri

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Chairman’s Statement “The Group performed admirably in 2012 amidst another challenging year which saw the domestic construction sector enjoy robust double digit growth of 18.5%, the highest since 1995. The Group’s revenue has increased to RM1.28 billion as compared to RM1.18 billion in 2011.” TAN SRI DATO’ IR WONG FOON MENG Chairman, Bina Puri Holdings Bhd PSM, DPMT, JMN 26 BINA PURI HOLDINGS BHD Annual Report 2012
Chairman’s Statement (Cont’d) The Group performed admirably in 2012 amidst another challenging year which saw the domestic construction sector enjoy robust double digit growth of 18.5%, the highest since 1995. The Group’s revenue has increased to RM1.28 billion as compared to RM1.18 billion in 2011. We continued to sustain the momentum enjoyed in 2011 and to date have a current unbuilt book order of RM1.68 billion as at April 2013 which would provide a steady stream of income over the next two (2) to three (3) years. Unbuilt Book Order from year 2008 to 2012 RM Million 3000 2500 2000 1500 1000 500 0 1702 2040 2623 3000 1906 2008 2009 2010 2011 2012 shortage of skilled workers in the construction industry and economical slow down in most parts of Europe, Bina Puri Group reported a net profit before tax of RM16.40 million for the financial year ended 31 December 2012 as compared to RM25.85 million in 2011. The drop in profit despite the increase in revenue could be attributed to higher construction costs for our overseas projects coupled with foreign currency exchange losses. Though our profit level dipped in 2012, it is heartening to note that our subsidiaries performed well with the property, quarry & ready mix and utilities divisions all recording increases in revenue. Of significant mention would be the polyol division which recorded an increase in revenue as well achieving profit in 2012. The Group has launched several new developments projects in 2012 while also making further inroads abroad in the micro power service sector in Indonesia. This included successfully securing additional capacity of 4MW from PT. PLN (Persero) Wilayah Bangka Belitung for power generation facilities in Pulau Bangka as well as entering into an agreement with PT. PLN (Persero), Wilayah Sulawesi Selatan to build and operate a mini hydro power plant with a capacity of 4.2 MW in Sulawesi. In addition, the Group also secured a contract to design and build a Chancery and Residence Building for Malaysian Embassy in Moscow and also a factory warehouse in Ban Klong Prueng, Suwinthawong Road, Minburi, Bangkok in Thailand. On behalf of the Board of Directors, I am pleased to present the annual report and audited accounts of Bina Puri Holdings Bhd for the year ended 31 December 2012. Power Plant in Indonesia Commendable Performance in a Difficult Year With a backdrop of many uncertainties in the local and international scene, namely the much anticipated 13th General Election and the outcome of the same, the A Brighter Outlook Moving Forward An artist impression of the new Malaysia Embassy in Moscow The Malaysian economy performed better than expected in 2012, recording a strong growth of 5.6%, while it is expected to remain on a steady growth path, with an expansion of 5-6% in 2013. Building on what was achieved last year, the Group is gradually reaping the benefits of various initiatives as part of its transformation programme in streamlining its property development activities towards reducing the dependency on the construction sector BINA PURI HOLDINGS BHD Annual Report 2012 27
Page 1 and 2: The Main Place Mall “ “ Plaza M
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BINA PURI HOLDINGS BHD (207184-X) P
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Annual Report - Bina Puri

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