A G7 building contractor, Inta Bina Group Berhad posted revenue of RM110.4 million and profit after tax of RM2.3 million, up by 30.1% and 62.1% for Q4 2021 as opposed to RM84.9 million and RM1.4 million in 2020.
As compared to the preceding quarter Q3FY2021, the revenue and PAT increased by 99.0% and 115.9% respectively, primarily due to the higher recognition of progress billings as construction projects which were halted for almost a month before resuming with a limited workforce under the movement control order’s restrictions.
For FY2021, the revenue and PAT grew by 19.9% and 45.4%, year-on-year, to RM336.0 million and RM11.8 million attributing to higher recognition of progress billings from on-going projects as a result of better operating environment as compared to FY2020. During the year under review, Inta Bina completed 2 projects and secured 8 contracts worth RM393.4 million. Coupled with the RM160.6 million worth of contract secured in January 2022, the unbilled order book has increased to approximately RM1.3 billion to date.
Inta Bina’s balance sheet remained healthy with a net cash position of RM10 million and a current ratio of 1.42 times.
Commenting on the results, Inta Bina Group Berhad managing director Paul Lim Ooi Joo said, “To reward our shareholders, we are pleased to announce a 0.5 sen dividend per ordinary share. Inta Bina is in the stage of recovery from the trough, and we will continue to work hard to further grow the company and build long-term shareholder’s value.
Last month, the group partnered with Lagenda Properties Berhad to undertake their projects in Pahang, Johor, and Kedah over the next 5 to 7 years, with a total construction value of approximately RM1.3 billion. To this end, Inta Bina will continue to explore opportunities for collaborations that can benefit and also tender for new projects going forward. The group currently has RM800 million order book replenishment target for 2022.
“The operating environment in 2022 may still be perceived as uncertain due to the high number of COVID-19 cases but we are optimistic of our company’s outlook, supported by our healthy unbilled order book. We will continue to work on our existing projects and ensure that the SOPs are strictly enforced in all our worksites to minimise the impact of the pandemic on our operations,” he added.
