KUALA LUMPUR: Bintai Kinden Corp Bhd’s net profit jumped 57.2% to RM1.41mil in the third quarter ended Dec 31, 2021 (3Q22), from RM898,000 a year earlier on continued improvements in its mechanical and electrical engineering (M&E) segment.

       Its revenue in 3Q22 stood at RM28.93mil, up 92.4% from RM15.04mil posted a year ago.

       In the first nine months to Dec 31, 2021, Bintai’s net profit came in at RM3.43mil, from net loss of RM3.26mil in the preceding year. Revenue rose 42.2% to RM58.3mil from RM41mil previously.

       Executive director Azri Azerai said the group was encouraged by the continued improvement of its core business in the M&E business segment and the solid performance of concession arrangements.

       “Our strong return to profitability has yet to account for additional contribution from our new venture Johnson Medical International Sdn Bhd, which marks Bintai Kinden’s diversification into healthcare while keeping true to our expertise in the M&E space,” he said in a statement.

       Johnson Medical is expected to begin contributing to Bintai Kinden’s bottom line in 4Q22.

       The RM50mil acquisition of Johnson Medical comes with a guaranteed net profit of RM9.1mil over two years, which translates into an average net profit of RM4.55mil for FY2022 and FY2023.