English | 简体中文 | 繁體中文 | 한국어 | 日本語
Monday, 29 August 2022, 19:00 HKT/SGT

Source: Binasat Communications Berhad
Binasat Posts 55.0% Increase in FY2022 Revenue to RM83.51 Million
Group is optimistic on outlook, focusing on expanding satellite operations, national digital infrastructure initiative and Phase 2 of PoP

KUALA LUMPUR, Aug 29, 2022 - (ACN Newswire) - Binasat Communications Berhad, an all-round solution provider of network engineering and services, today reported revenue of RM83.51 million for the full-year ended 30 June 2022 (FY2022), a 55.08% increase compared with RM53.85 million for the corresponding period of the last financial year (FY2021) mainly attributable to higher revenue from civil mechanical and engineering works, recurring teleport services and revenue from transmission and distribution network facility services and engineering, procurement, construction and commissioning (EPCC) of solar farm facilities.

Binasat Communications' office in Technology Park Malaysia, Bukit Jalil, Kuala Lumpur

For the period under review, Binasat recorded a 50.74% gain in GP to RM18.22 million compared with the preceding year corresponding period on higher revenue from transmission and distribution network facility services and EPCC of solar farm facilities.

Binasat registered 63.53% increase in PBT for FY2022 compared with RM12.09 million in FY2021 mainly due to increase in GP and additional rental income of RM0.39 million The Group's PAT gained 123.27% to RM5.41 million compared with RM2.42 million.

The Group recorded RM14.96 million for the fourth quarter ended 30 June 2022 (4Q FY2022), a 15.20% decrease compared with RM17.64 million recorded in the corresponding quarter of the previous year (4Q FY2021) mainly attributable to lower revenue from civil infrastructure and fiber optic cabling works.

Binasat registered a 52.54% gain in gross profit (GP) to RM4.51 million in 4Q FY2022 compared with RM2.95 million in 4Q FY2021 on a reduction in the number of mobile network maintenance services sites although fixed costs continued to be incurred resulting in lower gross margin. Binasat's profit before tax (PBT) increased 145.72% to RM2.44 million compared with RM0.99 million in the same quarter of the previous year while profit after tax (PAT) gained 254.31% to RM1.55 million compared with RM0.40 million.

Executive Director cum Chief Executive Officer, Zulamran Bin Hamat, said, "We believe that with the reopening and gradual recovery of the economy, more telecommunications and satellite services will be needed by businesses and organisations. We are now focused on expanding satellite operations by targeting the maritime and oil and gas industries as these industries increasingly adopt the VSAT system."

"The Group intends to leverage on its Approved Supplier & Partner status with Ericsson (Malaysia) Sdn Bhd and Huawei Malaysia to win projects as Digital Nasional Berhad has announced a partnership with Ericsson for the national digital infrastructure initiative while Huawei is assisting major mobile network operators to upgrade their 4G network capacity."

"We are optimistic for the economic outlook as the Group is also participating in Phase 1 of the Point of Presence (PoP) fiber infrastructure project and we have tendered for Phase 2 of the PoP project. Both phases have a combined value of RM8.0 billion and have to be completed in three years. At the same time, we are also participating in the construction of 5G towers in Kuala Lumpur."

Binasat Communications Berhad: 195 [BURSA: BINACOM], https://www.binacom.com.my/

Topic: Press release summary
Source: Binasat Communications Berhad

Sectors: Telecoms, 5G, Daily Finance, Broadcast, Film & Sat, Daily News, Local Biz
From the Asia Corporate News Network

Copyright © 2023 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.


Latest Press Releases
GigaCloud Technology Inc Ushering In A Bright Future As China Reopening in 2023  
Mar 24, 2023 15:30 HKT/SGT
Eisai to Present Research from Oncology Portfolio at The Society of Gynecologic Oncology (SGO) 2023 Annual Meeting on Women's Cancer  
Friday, March 24, 2023 12:22:00 PM
Mitsubishi Corporation: PoC Launched in Portland, Oregon to Develop Smart Multifamily Apartment  
Friday, March 24, 2023 10:02:00 AM
MHI and PLN Nusantara Power to Jointly Investigate Co-Firing with Hydrogen, Ammonia and Biomass in Indonesia's Power Plants  
Friday, March 24, 2023 9:26:00 AM
MHI Thermal Systems to Launch 22 Models of Residential-use Room Air Conditioners for the Japanese Market in 2023 (Domestic sales only)  
Friday, March 24, 2023 9:17:00 AM
INNIO's Wuhan Waste-to-Energy Project Enters Phase II With Commissioning of Six Additional Jenbacher J320 Engines  
Mar 24, 2023 09:00 HKT/SGT
VCREDIT Delivered Rapid Growth in Loan Volume, Registered Users Hit 126.8 million in FY2022  
Mar 24, 2023 08:53 HKT/SGT
DepEd leaders, local school leaders and EdTech experts gather to discuss the future of K-12 education and hybrid learning in Manila this April  
Mar 24, 2023 08:29 HKT/SGT
WEILONG announced 2022 Annual Results  
Mar 23, 2023 22:51 HKT/SGT
Anglepoint Launches ServiceNow App: IBM Licensing for Software Asset Management  
Mar 23, 2023 21:05 HKT/SGT
More Press release >>
More events >>
Copyright © 2023 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Cookies Policy | Privacy Policy | Disclaimer | Terms of Use | RSS
US: +1 214 890 4418 | China: +86 181 2376 3721 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575