GE15 NEWS   Kudat Independent MP backs unity government | Hamas leader congratulates Anwar on appointment as PM | GRS will abide by Agong 's decision on formation of unity govt - Hajiji | Zahid, Wan Azizah, Loke win while Saifuddin, Rezal Merican lose | 

MARC affirms rating on Bina Darulaman's Islamic commercial papers

30/08/2021 01:49 PM

KUALA LUMPUR, Aug 30  -- Malaysian Rating Corp Bhd (MARC) has affirmed its short-term rating of MARC-2IS on Bina Darulaman Bhd's (BDB) RM100 million Islamic commercial papers programme for the fourth year running with a stable outlook.

The Kedah State Development Corporation subsidiary said MARC, in its latest rating review issued in August 2021, stated that the rating incorporated BDB’s competitive strength to undertake public infrastructure and construction contracts in Kedah, its available landbank for property development and adequate cash balances.

“MARC’s report noted that BDB had continued its turnaround despite a challenging business environment in 2020 as a result of the COVID-19 pandemic,” it said in a statement today. 

BDB reported a group profit before tax of RM8.5 million in the financial year ended Dec 31, 2020, up 26 per cent from the previous year.

President and group chief executive officer Faris Najhan Hashim said the MARC report effectively validated the company’s management strategy and execution to create a sustainable business model and generate long-term value to shareholders.

“As a result of ongoing restructuring strategy towards long-term sustainable business profitability, BDB has realigned core businesses into two core divisions, namely, the property development division and engineering, construction and quarry division,” he said in the statement.

Faris Najhan said the consolidation approach of resources and focus on the group’s core competencies had paid off and proved to be crucial to the group’s improved financial performance and competitiveness in 2020 and 2021.

He added that the setting of strategic policy and direction by board of directors, as well as the execution and delivery of those policies by senior management team, had been harmonised to ensure the delivery of key company goals and key performance indicators.

The group’s continued rebalancing and optimisation of its core business operations was geared towards ensuring the continuity and resilience of BDB as a viable operating entity, he said.

“In order to achieve these outcomes, BDB’s board and management are committed to adopt a robust and independent decision-making process with regards to project investment, one that is based on data, insights and industry experience of the management team,” Faris Najhan said.

He also noted that the ongoing national vaccination programme, the restarting of economic and business activity coupled with robust demand for affordable housing in Kedah would be a boost for BDB’s new growth amid improved business conditions in the coming months and years.




BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires;; BERNAMA TV on the Astro 502, unifi TV 631 and MYTV 121 IFLIX channels and BERNAMA Radio on the FM93.9 (Klang Valley), FM107.5 (Johor), FM107.9 (Kota Kinabalu) and RM100.9 (Kuching) frequencies.

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter :, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2022 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy