BINTAI KINDEN SIGNS MOU WITH HENAN PROVINCE INSTALLATION GROUP TO EXPAND CONSTRUCTION AND ENGINEERING FOOTPRINT

Collaboration aimed at enhancing tendering capabilities for high-rise, industrial, and data centre projects

PETALING JAYA, 17 OCTOBER 2024 – Bintai Kinden Corporation Berhad ("BKCB" or the "Company"; Bursa: BINTAI, 6998), a mechanical and electrical (“M&E”) engineering services specialist, medical device manufacturer and facilities operator, is pleased to announce that its wholly-owned subsidiary, Kejuruteraan Bintai Kindenko Sdn. Bhd. (“KBK”) has signed a Memorandum of Understanding (“MOU”) with Henan Province Installation Group (Malaysia) Sdn. Bhd. ("HPIG"), a subsidiary of Henan Province Installation Group Co. Ltd, China. This partnership aims to strengthen both parties’ tendering capabilities and jointly pursue a range of construction projects in Malaysia.

For information, Henan Province Installation Group Co. Ltd, China brings over six decades of experience with a registered capital of CNY 1.5billion specialises in various sectors, including building materials, chemical works, petroleum, electric power, smelting machinery, electronics, and housing construction. Their expertise complements KBK's track record in Malaysia, particularly in the construction of substations and power distribution networks, making this collaboration a solid combination to pursue bigger projects in Malaysia.

The MOU outlines a mutual understanding between KBK and HPIG to collaborate on securing future projects by leveraging their respective expertise in the construction and mechanical and electrical (“M&E”) engineering sectors. The collaboration will focus on several key areas, including the construction of high-rise commercial and residential buildings, industrial buildings, data centres, and sub-station and power distribution networks.

Datuk Tay Chor Han, Managing Director cum CEO of BKCB, commented, “We are excited to partner with Henan Province Installation Group to expand our presence in the Malaysian construction and M&E engineering market. With Henan’s over 60 years of experience and proven track record in China across various sectors, we believe this collaboration will enhance our ability to secure and deliver on large-scale projects. This partnership strengthens our market position and enhances our service offerings, particularly in high-growth areas such as data centres and industrial buildings.”

Furthermore, this MOU is expected to enhance BKCB’s ability to tender for larger, more complex projects, positioning the Company as a key player in Malaysia's construction and engineering sectors. While the MOU will not immediately impact the Company’s issued share capital, it is anticipated to contribute positively to BKCB’s future earnings as the collaboration materialises into successful project wins.

This MOU comes at a crucial time as Bintai Kinden continues its efforts to uplift from its Practice Note 17 (PN17) status, which it entered in March 2023 due to financial challenges. The Company is actively pursuing its regularisation plan to address its financial condition, and strategic collaborations like the one with Henan Province Installation Group are part of its ongoing efforts to improve operational performance and enhance revenue generation. Bintai Kinden remains committed to implementing measures that will strengthen its financial position, and this partnership is expected to contribute positively towards the Company’s recovery and long-term growth.

As at 5:00 P.M., 17^th October 2024, BKCB’s share price closed at RM0.095, representing a market capitalisation of RM115.9 million.