Bina Puri inks MOU with Hanil Electric for RM220mil EPCC job

KUALA LUMPUR: Bina Puri Holdings Bhd has entered into a memorandum of understanding (MOU) with South Korea's Hanil Electric Group Co Ltd over the engineering, procurement, construction and commissioning (EPCC) works for Hanil's upcoming US$50mil (RM220mil) manufacturing plant in Sarawak.

Under the terms of the MOU, Hanil will, during the planning and development phase of the manufacturing plant, keep Bina Puri informed of relevant material developments and prioritise it over other third parties in the EPCC tender and negotiation process.

Bina Puri will also be appointed as Hanil’s exclusive representative for the promotion, distribution and market development of Hanil’s products in Malaysia, while exploring expansion into other Southeast Asian markets.

In addition, Bina Puri will actively consider incorporating Hanil’s technology and products in its

existing and future projects, aiming to enhance efficiency, sustainability, and compliance with modern building standard.

"We are extremely honoured to be selected by Hanil to become their exclusive agent in Malaysia for their premium and quality products, besides potentially being the EPCC contractor for their future manufacturing plant," said Bina Puri executive director and group CEO Marcus Goh Kee Lun in a statement.

In early August 2025, Bina Puri received a letter from Bank Negara's Corporate Debt Restructuring Committee, which approved its application for assistance to mediate between Bina Puri and

its lenders.

According to Goh, this was a major milestone in Bina Puri's efforts to restructure its debt and restore itself to a solid financial position and effectively addressing its liabilities to ensure future sustainability.

Goh added that the group is preparing to take on new opportunities and actively tendering for new projects in Sarawak and other parts of Malaysia.

"With all these efforts, Bina Puri is increasingly on better footing. We are confident that we will successfully restore the financial health of the group and ultimately enhance shareholder value."