KUALA LUMPUR (Dec 3): Bina Puri Holdings Bhd (KL:BPURI) has received its sixth winding-up petition this year, with the Inland Revenue Board (IRB) filing action against its wholly owned subsidiary BPI (WM) Sdn Bhd over alleged unpaid taxes amounting to RM310,653.31, according to a Bursa Malaysia filing.
Bina Puri stated that the subsidiary is obtaining legal and tax counsel and will “take all necessary steps to oppose and defend against the petition.” The court hearing is scheduled for Feb 12, 2026.
The group emphasised that BPI is not a major subsidiary under Bursa Malaysia rules, and the petition is not expected to have an immediate financial or operational impact, nor is it likely to generate any losses.
Series of Winding-Up Petitions in 2025
This marks the third petition filed by the IRB against Bina Puri this year. Previous petitions include:
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July 2025: Two wholly owned subsidiaries — Bina Puri Properties Sdn Bhd and Bina Puri Sdn Bhd — faced IRB actions over unpaid taxes of RM849,499 and RM4.2 million respectively.
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May 2025: Bina Puri Sdn Bhd was served a petition by Fujifilm Business Innovation Asia Pacific Pte Ltd over RM309,129 in alleged debt.
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April 2025: Bina Puri Holdings itself was hit with a RM30 million petition from Wisma Majujaya Sdn Bhd tied to a disputed Johor Bahru joint venture.
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February 2025: The company received a petition from Export-Import Bank of Malaysia Bhd regarding unpaid sums totalling US.9 million (RM21.75 million) and RM17,253.
In August, Bina Puri received assistance from Bank Negara Malaysia’s Corporate Debt Restructuring Committee to mediate with its lenders.
For the 15-month period ending Sept 30, 2025, Bina Puri posted a net profit of RM3.1 million on revenue of RM333.7 million.
Shares of Bina Puri closed at 30 sen, up 1.69%, valuing the group at RM267.87 million, and the counter has gained 11.11% year to date.
Market Implications
Despite ongoing legal challenges, Bina Puri continues its presence in Malaysia’s construction and property sectors. Projects under the group often intersect with high-demand areas, including commercial property in KL, office space in Bukit Jalil, and industrial developments such as factories in Puchong and industrial property in the Subang area, highlighting its continued operational footprint across strategic property markets.
