Bina Puri Inks MoU With Hanil Electric, Eyeing US$50 Mln Plant Project In Sarawak
KUALA LUMPUR, Sept 9 (Bernama) -- Bina Puri Holdings Bhd has signed a memorandum of understanding (MoU) with South Korea’s household appliance manufacturer, Hanil Electric Co Ltd, to develop Hanil’s upcoming US$50 million (RM220 million) manufacturing plant in Sarawak.
In a joint statement today, both parties said the collaboration could see Bina Puri appointed as the engineering, procurement, construction and commissioning (EPCC) contractor for the plant.
“Under the MoU, Hanil will, during the planning and development phase of the manufacturing plant, keep Bina Puri informed on relevant material developments and grant it priority over other third parties to participate in the EPCC tender and negotiation process.
“Bina Puri will also be appointed as Hanil’s exclusive representative for the promotion, distribution and market development of Hanil’s products in Malaysia, while exploring expansion into other Southeast Asian markets,” it said.
The statement added that Bina Puri would actively consider incorporating Hanil’s technology and products into its existing and future projects to enhance efficiency, sustainability, and compliance with modern building standards.
Bina Puri executive director and group chief executive officer (CEO) Marcus Goh Kee Lun said the collaboration marks the group’s first major initiative since its new management team was put in place in April this year.
"We are extremely honoured to be selected by Hanil as their exclusive agent in Malaysia for their premium and quality products, in addition to the potential role as EPCC contractor for their future manufacturing plant.
“We are preparing ourselves to seize new opportunities and are actively tendering for projects across Sarawak and the rest of Malaysia. We are confident of successfully restoring the group's financial health and ultimately enhancing shareholder value,” he said.
Meanwhile, Hanil CEO Kang Jae Sung said the partnership would not only strengthen the company’s market presence in Malaysia but also open up new opportunities across the region.
“We are thrilled to partner with Bina Puri, an established player in property, construction and various industries, as we expand our footprint in Southeast Asia," he said.
For the financial year ended June 30, 2025 (FY2025), Bina Puri recorded a net profit of RM2.65 million, returning to the black from a RM15 million loss a year earlier, while revenue jumped 66 per cent year-on-year to RM278.8 million.
-- BERNAMA