KUALA LUMPUR (April 17): Exsim Hospitality Bhd (KL:EXSIMHB) has bagged a RM138 million subcontract from a unit of Binastra Corporation Bhd (KL:BNASTRA) to undertake fit-out works for a development project here.

In a filing to Bursa Malaysia on Friday, Exsim Hospitality said the contract was awarded to its wholly-owned subsidiary Exsim Concepto Sdn Bhd (ECSB) by Binastra Builders Sdn Bhd.

The scope of works comprises mechanical, electrical and plumbing (MEP) systems, interior design and architecture works, as well as other related building services.

The subcontract works form part of a main contract that commenced on Sept 29, 2025, and is scheduled for completion on Feb 28, 2029, with a total duration of 41 months, the company said.

The defects liability period is 27 months from the date of the certificate of practical completion or until all defects are rectified, whichever is later.

Exsim Hospitality said the contract is expected to contribute positively to its earnings, net assets per share and gearing over the duration of the project.

Shares in Exsim Hospitality closed half a sen or 1.7% lower at 28.5 sen, valuing the company at RM685 million.