Quick take: BDB rises 3.4% on 30-year concession with LADA

TheStar Wed, Sep 22, 2021 09:42am - 2 years View Original


KUALA LUMPUR: Shares in Bina Darulaman Bhd (BDB) rose in early trade Wednesday after signing a 30-year concession with Langkawi Development Board (LADA).

The engineering and construction services company rose 3.45%, or 1.5 sen to 45 sen. The counter has risen about 13% so far this year.

BDB’s joint venture (JV) with Menteri Besar Kedah Inc (MBI Kedah) has entered into a concession agreement for a mixed development of premium brand outlets, with boutique hotels and other amenities in Bandar Padang Mat Sirat, Langkawi.

BDB president and group chief executive officer Faris Najhan Hashim said the project, in collaboration with LADA, would be developed on 16.58 hectares of land in Padang Matsirat, next to Langkawi International Airport.

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