Annual Report - Bina Puri

Executive Chairman’s Statement (Cont’d)• On the international front,we have managed to secure projectsin Middle East and South Asia. In United Arab Emirates, theGroup with our joint venture partner, Syarikat PermodalanKebangsaan Berhad, secured the construction works worth ofequivalent to RM444 million for 2 Towers of a residential,commercial and recreational development in May 2007. Wewere also awarded the contract of about RM186 million for theconstruction of 174 units of housing for Defence Raya Golf andCountry Club, Lahore, Pakistan in August 2007.BUSINESS OUTLOOK AND PROSPECTS 2008Bina Puri Holdings Berhad remains committed to its objectives ofdelivering a steady growth in earnings to our shareholders.For 2008 and in the medium term, the construction industry inMalaysia is expected to show stable prospects. The Government’splanned expenditure as highlighted in the Ninth Malaysia Plan(9MP) is expected to take place at the pace that we saw for theEighth Malaysia Plan. We see the construction industry as beingrelatively unaffected by the obvious slowdown in the US economy.Grace Garden Condominium, Kota Kinabalu, Sabah.FINANCIAL RESULTSFor the year ended 31 December 2007, Bina Puri HoldingsBerhad’s results for the year were satisfactory, we recorded a 24%increase in our revenue of RM607.9 million as compared toRM491.6 million recorded in 2006. Correspondingly, profit beforetax increased by 33% to RM8.5 million as compared with theRM6.4 million recorded in the previous year, while earnings pershare ended at 8.60 sen (2006 : 6.33 sen).Our Group continues to pursue diversification in our portfolio ofconstruction jobs. This means that our earnings within Malaysia arewell balanced between the public sector and private sector, whileour international operations are mainly in Thailand, other ASEANcountries, Middle Eastern and South Asian countries.Further for long term sustainability, Bina Puri Holdings Bhdtogether with our partner secured the toll concession from theGovernment of Malaysia for the KL-Kuala Selangor Expressway.FOUNDATION FOR GROWTHWe achieved several milestones in 2007, which I believe positionsour Group for solid prospects in terms of our future growth.• We are proud recipients of the Contractors Award 2007,presented by Construction Industry Development Board(CIDB) in recognition of our operational skills for theconstruction of a 39-storey building for 180 units of the CapitalSquare Condominiums in Kuala Lumpur.• We have completed a number of projects in Malaysia with totalvalue of RM611.5 million, among these, Grace GardensCondominiums, Sabah in February 2007, the Jalan Sipitang-Tenom roadworks, Sabah, in April 2007, the Capital SquareCondominiums and Retail Centres as well as the SignatureOffices in Kuala Lumpur in June 2007, and the Pavement andRehabilitation works in Cheras for the Grand Saga highway inSeptember 2007.180 units of Capital Square Condominium, Kuala Lumpur.BINA PURI HOLDINGS BHDAnnual Report 200711