KUALA LUMPUR: Loss-making Bina Puri Holdings Bhd anticipates recurring income from its hotel and mall assets.

The company's Swiss-Belhotel Kuantan in Pahang has become a popular tourist destination and weekend gateway for both domestic and international travellers.

It is understood that the hotel's food and beverage outlets generate a consistent monthly revenue of RM2.4 million.

The average hotel occupancy rate per month is 65 per cent.

Following the pandemic, the occupancy rate at Rimbun Suites and Residences in Bandar Seri Begawan ranged from 80 per cent to 85 per cent.

Rimbun Suites and Residences, with spacious apartments near popular landmarks, is the preferred choice for travellers and expatriates for short- and long-term stays, according to Bina Puri group managing director and chief executive officer Chai Chan Tong.

Bina Puri also anticipates recurring revenue from its neighbourhood mall, the Main Place Mall in USJ 21, Subang Jaya.

The property currently has a 90 per cent occupancy rate and an annual revenue of RM13 million.

Chai said that Bina Puri will participate in more tenders for the property development and construction divisions in order to unlock new market opportunities, form joint ventures, and increase its land bank.

As of October 2023, the construction division's order book stood at RM530 million.

Following the recent 2024 Budget, Chai expects the company's construction division to perform moderately in the coming fiscal year.

"The division will ensure the execution of ongoing projects to be completed in a timely manner while replenishing its order book from local and overseas markets," said Chai.

The division is also looking into opportunities in Sabah and Sarawak, according to the company's 2023 Annual Report, given that the region has the potential for new construction job opportunities in the near term.

Meanwhile, Chai said that the property division is encouraged by the government's continued support for encouraging homeownership.

He believes the division is expected to perform well in the coming fiscal year, supported by total unsold sales of around RM300 million and future mixed development in Kota Kinabalu.

Moving forward, the company is considering joint ventures and expanding its land bank.

Chai also said that the division is looking to develop Main Place, a mixed-use development that combines residence, leisure, retail, and dining to provide investors and residents with the ultimate city-suburban lifestyle in Kota Kinabalu.

According to him, the development is expected to boost business and investment growth along the Jalan Tuaran Bypass.

Meanwhile, Bina Puri plans to launch Phase 4 of the The Valley @ Bentong development project in the coming months, with a RM93 million gross development value.

Even though homestead land is a niche product in Malaysia, there is constant demand for it, Chai said.

"But it remains an appealing form of alternative investment, especially for those looking to build their weekend or future retirement homes," he said.