By DayakDaily Team
KUCHING, Sept 9: Bina Puri Holdings Bhd has signed a Memorandum of Understanding (MoU) with Hanil Electric Group Co. Ltd, a leading South Korean household appliance manufacturer, paving the way for Bina Puri’s potential appointment as the engineering, procurement, construction and commissioning (EPCC) contractor for Hanil’s planned US$50 million (RM220 million) manufacturing plant in Sarawak.
In the MoU exchange ceremony held today, Bina Puri was represented by its executive director and Group chief executive officer (CEO) Marcus Goh Kee Lun while Hanil Electric by CEO Kang Jae Sung. The ceremony was witnessed by Serembu assemblyman Miro Simuh and Tebedu assemblyman Dr Simon Sinang Bada.
Founded in 1964, Hanil Electric produces a wide range of products including pumps, water circulation systems, ventilators, fans, heaters, humidifiers, blenders, mixers, food processors, coffee makers, kettles, toasters, cooking grills, juice extractors, and vacuum cleaners.
According to a media release, Hanil plans to invest about US$50 million (RM220 million) in establishing its Sarawak plant as part of its Southeast Asia expansion strategy.
Under the MoU, Hanil will keep Bina Puri informed of key developments during the project’s planning and development stages, while giving the company priority over other parties in the EPCC tender and negotiation process.
In addition, Bina Puri will serve as Hanil’s exclusive representative in Malaysia for the promotion, distribution, and market development of its products, with the potential to expand into other Southeast Asian markets.
Bina Puri also intends to incorporate Hanil’s technologies and products into its existing and future projects to strengthen efficiency, sustainability, and compliance with modern building standards.
Goh emphasised that this is one of the first major developments for Bina Puri since the new management took over in April.
“We are honoured to be appointed as Hanil’s exclusive agent in Malaysia for their premium products and to be considered as the EPCC contractor for their upcoming manufacturing plant.
“In early August 2025, we also received approval from the Corporate Debt Restructuring Committee, under Bank Negara Malaysia, to mediate between Bina Puri and our lenders. This marks a significant milestone in our debt restructuring journey, enabling us to restore financial strength and sustainability,” he said.
He added that Bina Puri is now preparing to actively pursue new opportunities and tendering for projects across Sarawak and Malaysia. “With these efforts, we are increasingly on stronger footing and confident of restoring the Group’s financial health while enhancing shareholder value.”
Meanwhile, Hanil Electric CEO Kang Jae Sung said the partnership reflects Hanil’s commitment to building a stronger presence in Malaysia and the wider region.
“Hanil Electric is excited to collaborate with Bina Puri, a well-established player in property, construction and related industries, as we expand into Southeast Asia,” he said.
For the financial year ended June 30, 2025 (FY2025), Bina Puri posted a net profit of RM2.65 million, marking a return to profitability from a RM15 million loss the previous year. Revenue rose 66 per cent year-on-year to RM278.8 million. — DayakDaily
