Bina Puri exploring fundraising exercises

TheStar Tue, Jul 14, 2020 08:11am - 3 years View Original


The construction and property firm said this included its construction and property development projects, repayment of bank borrowings and working capital requirements.

PETALING JAYA: Bina Puri Holdings Bhd is exploring various fundraising exercises, including undertaking a proposed private placement to meet its interim funding for the company’s existing projects.

The construction and property firm said this included its construction and property development projects, repayment of bank borrowings and working capital requirements.

Bina Puri said in its filing with Bursa Malaysia that although its construction and property development activities recommenced in May, its operations were disrupted, resulting in a cost overrun as the company incurred additional costs such as demobilisation and remobilisation of machineries as a result of the movement control order (MCO) and payment of salaries despite suspension of activities.

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