Home News Bina Darulaman may spin-off construction, property arms

Bina Darulaman may spin-off construction, property arms

Extract from The Star (16/3/2017)

KUALA LUMPUR: Kedah-based property and construction company Bina Darulaman Bhd is mulling on a separate listing of either its construction or property division.

Met on the sidelines of Bina Darulaman’s AGM this afternoon, group managing director Datuk Izham Yusoff said they are considering the listing but declined to give an exact time frame in view of the soft market.

“We are looking at it but still unsure of which segment for now. The market is still pretty soft and we won’t get a good pricing if we go into listing now.

“Nothing have firmed up yet,” said Izham.

He said the focus for 2017, among others include monetising the land that the company had bought in the last two to three years. 

On whether it had plans to dispose of the loss-making golf course and hotel which falls under the tourism and hospitality division, Bina Darulaman has total landbank measuring about 2,000 acres.