KUALA LUMPUR (Oct 22): Exsim Hospitality Bhd (KL:EXSIMHB) has secured another subcontract from Binastra Corp Bhd (KL:BNASTRA), this time worth RM13.49 million, for the supply, fabrication, delivery and installation of carpentry works.
According to a Bursa filing on Thursday, Exsim Hospitality's wholly owned unit Exsim Concepto Sdn Bhd secured the award from Binastra’s wholly owned construction arm Binastra Builders Sdn Bhd.
Exsim Concepto will undertake the works for typical units in accordance with Binastra Builders’ main contract programme, which commenced on Dec 9, 2024 and is scheduled for completion on June 8, 2028.
The subcontract carries a defect liability period of 27 months from the issuance of the certificate of practical completion, or until all defects have been rectified, whichever is later.
Since beginning of the year, the group has received at least two subcontracts from Binastra Builders, collectively worth RM211.66 million.
On April 17, Exsim Hospitality secured a RM138 million subcontract for mechanical, electrical and plumbing systems, interior design, architectural works and other building services. On March 13, it secured a RM73.66 million subcontract for building services and general works.
Shares of Exsim Hospitality closed half a sen lower at 50 sen on Thursday, valuing the group at RM1.16 billion. The stock has more than doubled this year.
Binastra, meanwhile, closed five sen or 1.79% lower at RM2.75, giving it a market capitalisation of RM3.01 billion. Its shares have risen nearly 28% year to date.