Bintai Kinden Corporation Berhad Archives - Page 2 of 2

Bintai Kinden Appointed by South Korean Company to Market Piping and Fitting Products

Mechanical and electrical (M&E) engineering services specialist Bintai Kinden Corporation Berhad (Bursa: BINTAI, 6998) is pleased to announce that Bintai Energy Sdn Bhd has been appointed by World Standard Materials Co. Ltd. (WSM) to sell and market flanges, plates, tubes, pipe, coils and fittings for the chemical and petrochemical industries.

En. Azri Azerai, Executive Director of Bintai Kinden

Bintai Energy is 51% owned by Bintai Kinden through its wholly-owned subsidiary, Kejuruteraan Bintai Kindenko Sdn Bhd. WSM was founded in 1999 in Busan, South Korea. The company is involved in manufacturing and trading of industrial steel products. The company supplies to various industries internationally, including oil and Gas, power generation, shipbuilding, chemical and petrochemical industries.

As part of the appointment, WSM will work with Bintai Energy to seek opportunities as well as provide the necessary technical and competitive price support of the products while Bintai Energy will be responsible for the promotion of WSM’s products. The collaboration is for a period of three years.

En. Azri Azerai, Executive Director of Bintai Kinden said, “The collaboration with WSM enables us to widen our product offerings to the chemical and petrochemical industries important for their role in the value-chain of other industries such as plastics and automotives as they supply the raw materials.”

“We are delighted to have the opportunity to work with WSM, whose research and development efforts have been rewarded with quality flanges, pipes and fittings that are used in the chemical and petrochemical industries. We look forward to working together to grow the market for WSM’s products in Malaysia.”

Mr. Ahn Byung Hwan, President of WSM said, “We are looking forward to working with Bintai Energy to bring our products to the Malaysian market. We believe that together, both parties will be able to make inroads into the chemical and petrochemical industries.”

Bintai Kinden Corporation Berhad: 6998 [BURSA: BKC], http://bintai.com.my/

Bintai Kinden to Market O&G Equipment in Indonesia

Company’s collaboration agreement signed with PT Raintech opens up vast opportunities in Southeast Asia’s largest economy

Mechanical and electrical (M&E) engineering services specialist Bintai Kinden Corporation Berhad’s (Bursa: BINTAI, 6998) sub-subsidiary, Bintai Energy Sdn. Bhd., has entered into a business collaboration agreement with PT Raintech Indo Energi (PTRIE) in which PTRIE has been appointed to market and promote flanges, fittings, pipes and other oil and gas (O&G) equipment on behalf of Bintai Energy in Indonesia.

Azri Azerai, Executive Director of Bintai Kinden

Bintai Kinden owns a 51% stake in Bintai Energy through Kejuruteraan Bintai Kindenko Sdn Bhd, an M&E engineering services specialist. PTRIE provides integrated solutions with a focus on the upstream, midstream and downstream O&G industry as well as the marine, industrial, aviation, water and waste water, food and beverage and, healthcare industries.

Under the agreement, which is valid for three years, Bintai Energy will collaborate and work together with PTRIE to promote business opportunities and provide the necessary technical and competitive price support on the products to be represented by PTRIE, which will be responsible for the promotion of the products in Indonesia and advise Bintai Energy on market-related information on these products.

En. Azri Azerai, Executive Director of Bintai Kinden said, “The collaboration with PTRIE opens up vast opportunities for us as Indonesia is Southeast Asia’s largest economy with a GDP of US$1.19 trillion as of 2021 and a population of 270 million. Its O&G industry is an important contributor to the economy and a key growth driver.”

“We look forward to working together with PTRIE, whose founders are renowned experts in Indonesia’s O&G industry, to seek opportunities that are beneficial to us both as Indonesia has set a target to ramp up crude oil and condensates production to 705,000 barrels a day.”

Ms. Verra Christianty, Director of PTRIE said, “We are happy to collaborate with Bintai Energy to introduce these products to Indonesia. We are sure that, with their technical and pricing knowledge, both parties will be able to penetrate a vast market.”

Bintai Energy was recently awarded additional sub-contracts to supply high-grade carbon steel/stainless steel piping, valves and piping accessories with a value of approximately RM4.43 million and has to-date clinched approximately RM9.0 million in sub-contracts.

Bintai Kinden Corporation Berhad: 6998 [BURSA: BKC], http://bintai.com.my/

Bintai Kinden JV Wins Contracts to Supply O&G-Related Equipment

Bintai Energy awarded latest contracts worth RM4.43 million from Petro Flanges & Fittings

Bintai Kinden Corporation Berhad (Bursa: BINTAI, 6998), a mechanical and electrical (M&E) engineering services specialist, is pleased to announce that Bintai Energy Sdn Bhd (Bintai Energy) has been awarded a series of additional sub-contracts by Petro Flanges & Fittings Sdn Bhd (PFF) to supply high-grade carbon steel/stainless steel piping, valves and piping accessories with a value of approximately RM4.43 million to companies in the oil and gas (O&G) industry.

Bintai Kinden, through wholly-owned subsidiary Kejuruteraan Bintai Kindenko Sdn Bhd (KBK), has a 51% interest in Bintai Energy, with the other 49% interest held by PFF. KBK is a M&E engineering services specialist while PFF is a supplier of pipes, flanges, fittings, valves and other O&G-related equipment.

En. Azri Azerai, Executive Director of Bintai Kinden said, “These sub-contracts are a welcome addition to the stable of sub-contracts under KBK and we believe that the partnership we have with PFF through Bintai Energy is an effective platform from which both sides can leverage and benefit.”

“The dynamic team at Bintai Kinden is continuously evolving and one area we are focusing on is the O&G industry where we are tapping into opportunities from rising activities in the industry. Under these sub-contracts, we are supplying equipment to various established companies with O&G-related businesses and activities. Bintai Energy has been awarded with similar contracts since its establishment in March 2022 and we hope to be able to win more such contracts given our expertise and knowledge.”

With the most recent sub-contracts, Bintai Energy has clinched a total of approximately RM9.0 million under the Bintai Energy JV since its formation.

Bintai Kinden Corporation Berhad: 6998 [BURSA: BKC], http://bintai.com.my/

Bintai Kinden Signs MoU Exploring Opportunities in Middle East

Company’s sub-subsidiary, JMI, in talks with Jeddah, Saudi Arabia-based Nouveta to collaborate on M&E solutions and services for healthcare industry

Bintai Kinden Corporation Berhad, a building and industrial service engineering specialist, is pleased to announce that the Company’s sub-subsidiary, Johnson Medical International Sdn Bhd (JMI), has signed a memorandum of understanding (MoU) with Medical Renewable Care Company (MRC, or under its trade name known as Nouveta) to explore a collaboration providing mechanical and engineering (M&E) solutions and services to the healthcare industry of Saudi Arabia and future expansion in Dubai, United Arab Emirates (UAE).

JMI specialises in the design, manufacture and installation of customized hospital support system equipment and provision of nursing home services. Nouveta, which is based in Jeddah, Saudi Arabia, provides healthcare-related products and services to doctors, hospitals and pharmacies.

Azri Azerai, Executive Director of Bintai Kinden said, “This MoU gives us the framework to explore in more concrete terms how JMI and Nouveta can collaborate further in Saudi Arabia and the UAE and leverage on the opportunities that can be found in these countries.”

“As a first step, we are looking to appoint Nouveta as JMI’s distributor in Saudi Arabia and secondly, we will study more on the commercial viability of providing M&E solutions and services in Dubai and the rest of the UAE that may encompass a wider market than just hospitals and pharmacies. We look forward to deepening the partnership with Nouveta.”

Ali Salem Alsubai, General Manager of Nouveta said, “We look forward to a fruitful relationship with JMI and Bintai Kinden. We believe that there are opportunities for us to leverage on and grow together.”

Bintai Kinden, which recorded a net profit of RM0.91 million in the quarter ended 31 March 2022 (Q4 2022) against a net loss of RM6.59 million in the corresponding Q4 2021, also recently formed a partnership with Marafie Industries Co to supply piping materials to oil and gas related companies in Saudi Arabia as well as securing a series of projects from Petro Flanges & Fittings Sdn Bhd to supply piping materials.

Bintai Kinden Corporation Berhad: 6998 [BURSA: BKC], http://bintai.com.my/

Bintai Kinden Corporation Berhad Emerges as Substantial Shareholder in Malaysian Genomics Resource Centre Berhad

Malaysian Genomics Resource Centre Berhad (“MGRC” or “the Group”), a leading genomics and biopharmaceutical specialist, is pleased to announce the entry of a new substantial shareholder, Bintai Kinden Corporation Berhad (“Bintai Kinden”), a specialist in mechanical and electrical engineering services to the construction sector, in the Group.

Bintai Kinden now has an effective shareholding of 5.03% stake in MGRC, following the acquisition of 6.25 million shares by Bintai Trading Sdn. Bhd., a wholly-owned subsidiary of Bintai Kinden, on 17 February 2022.

Following the acquisition, Encik Noor Azri bin Dato’ Sri Noor Azerai (“Azri Azerai”), who was redesignated as an Executive Director of MGRC effective from 16 February 2022, will oversee the business development, human resources and finance functions of the Group. Azri Azerai has relinquished his role as Deputy Chief Executive Officer (“CEO”) of Bintai Kinden after taking up the new role in MGRC, but will remain on the Board of Bintai Kinden as an Executive Director.

Azri Azerai, who was appointed to Bintai Kinden’s Board in July 2021 as an Executive Director, and subsequently redesignated as the Deputy CEO, has successfully turned Bintai Kinden’s earnings black since the first quarter of FY2022.

Speaking on his new role in MGRC, Azri Azerai said, “There are synergies in both companies that we intend to harness as Bintai Kinden diversified into the healthcare sector through the acquisition of Johnson Medical International Sdn. Bhd. (“JMI”) in November 2021. We see plenty of opportunities that MGRC and Bintai Kinden can jointly enter into and leverage each other’s strengths.”

JMI specialises in medical facility development and construction projects where it provides medical engineering solutions such as operating theatres, critical care units and medical gas delivery systems. JMI is also a trader of medical equipment and supplies.

“We want both MGRC and Bintai Kinden to reap the benefits of working together. As I sit on the Boards of both companies, we will have better coordination and focus on where both companies can seek opportunities to grow as there is great potential for both.”