Bina Darulaman AR2022 Part 1

Bina Darulaman Berhad
Sustaining Growth,
Creating Future
ANNUAL REPORT 2022
Sustaining Growth,
Creating Future
Our Mission
To deliver excellent standards
of performance in township
development, infrastructure,
Since 1995, BINA DARULAMAN
construction and tourism.
BERHAD (”BDB”) has been driving
its mission to boost the Kedah state
economy through its core businesses of Our Vision
Engineering, Construction and Quarry To be a respected and leading
(”ECQ”), Property Development and conglomerate that delivers
excellent products and services.
Leisure.
Our investments in township development, construction, infrastructure

maintenance, and leisure have catalysed sustainable growth in various
economic sectors, enhanced social development in our communities,
and minimised our environmental impact. Over the past three decades,
BDB has successfully implemented a growth strategy that has propelled
our profitability, increasing value creation for all our stakeholders.
Our strength and resilience stem from the knowledge and expertise of
our people. We consistently identify areas for improvement, explore new
growth opportunities, and proactively surpass our own high standards.
Our pursuit of Sustaining Growth, Creating Future aligns with the State
Government’s strategic plans to secure long-term prosperity for Kedah
and beyond.
28th
Annual General Meeting
Raia Hotel & Convention Centre Alor Setar,
Lot 3860, Mukim Titi Gajah, Seksyen 2,
Bandar Anak Bukit, 06550, Alor Setar,
Kedah Darul Aman, Malaysia
Thursday, 8 June 2023 at 10.00 a.m.

What’s Inside
2 About Us
Our Corporate Objectives 14 Corporate Structure
To maximise returns to shareholders by
maximising the growth rate of net 15 Corporate Information
earnings.
16 Board of Directors
To ensure that subsidiaries achieve
leadership positions in their respective 18 Board of Directors’ Profile
industries.
27 Senior Management
To create a conducive environment for
the Group’s employees to realise their 28 Senior Management Profile
potential.
30 5-Year Group Financial Highlights
To ensure the sustainability of our core
businesses. 32 Investor Relations
To create diversified income and revenue 33 Financial Calendar

sources.
33 Share Price Movement
To contribute positively towards the social
and environmental needs of the society in 36 Chairman’s Statement
which we operate.
44 Management Discussion & Analysis
68 Corporate Highlights
77 Sustainability Statement
Go Green, 120 Corporate Governance Overview Statement

Go Paperless.
136 Audit Committee Report
139 Statement on Risk Management and Internal Control
Scan this QR Code for the online 144 Financial Statements

copy of the Annual Report 2022
254 Material Properties of Bina Darulaman Berhad
as at 31 December 2022
CAUTIONARY STATEMENT
BDB makes no representation or warranty, whether expressed or
implied, as to the accuracy or completeness of the facts highlighted
255 Analysis of Shareholdings as at 31 March 2023
in this Annual Report (“the Report”), disclaiming responsibility from
any liability that might arise from the reliance on its contents. This
Report may contain “forward-looking statements”. Forward-looking 256 List of Top 30 Shareholders as at 31 March 2023
statements involve inherent risks and uncertainties and other
257
factors that are in many cases beyond our control. Although BDB
believes that the expectations of its Management as reflected by Notice of 28th Annual General Meeting
such forward looking statements are reasonable based on current
information, no assurance can be given that such expectations will
prove to have been correct. Should one or more of the risks and 262 Administrative Guide for 28th Annual General Meeting
uncertainties materialise, actual results may vary materially from
those anticipated or projected. Accordingly, readers are cautioned
not to place undue reliance on such forward-looking statements. 266 Proxy Form
In any event, these statements speak only as of their dates and we
undertake no obligation to update or revise any of them, whether
as a result of new information, future events, or otherwise. 269 GRI Content Index 2022
BINA DARULAMAN BERHAD Annual Report 2022 | 1

Sustaining Growth, Creating Future
About Us
BINA DARULAMAN BERHAD (”BDB”) is the Kedah State Government’s

investment holding company with a track record of more than 27 years
in its core businesses of Engineering, Construction and Quarry (”ECQ”),
Property Development and Leisure while maintaining its investment
interests in the state’s tourism sector.
The BDB Group has revitalised the development of Kedah’s By anticipating and adapting to market trends, BDB
socioeconomic agenda since its inception on 7 February 1995 aims to gain a competitive advantage by diversifying
and listing on the Main Board of Bursa Malaysia on 2 February its revenue streams to spread and minimise risks.
1996. It has a dedicated and experienced workforce, with a Moving forward, the Group’s plans will see it branch
high level of expertise and specialisation, which has skilfully out into new areas such as renewable energy and
and efficiently managed a diverse range of projects throughout minerals while embracing greater levels of cost
the state. optimisation, human capital development and
digitalisation.
With a strong mandate for infrastructure development,
affordable housing, wealth generation and job creation,
the BDB Group has succeeded in becoming one of the most
respected companies in Kedah.The BDB Group’s identity and
tagline, “Spirit of Achievement”, reflects the company’s
objectives and goals of forging ahead and marks a corporate
culture in which teamwork is crucial in fulfiling corporate goals.
Simfoni West at Taman Tunku Intan Safinaz BDB Jitra, Jitra in Kedah.
2 | BINA DARULAMAN BERHAD Annual Report 2022

About Us
Engineering, Construction and Quarry (”ECQ”) Division
BDB INFRA SDN. BHD.
Since its inception in 1973, BDB Infra The plant is equipped with a batching
Sdn. Bhd. (“BDB Infra”) has amassed system with the capability of producing
40,000 mt of asphaltic bituminous mix
nearly 50 years of experience in products monthly. KKPP is the largest
quarrying and road construction. BDB

addition to BDB Infra’s production and
manufacturing facilities.
Infra is recognised as a reputable class
Backed by its excellent track record, BDB
G7 contractor for road works in northern Infra secured a three-year contract worth
Malaysia. RM210 million from the Kedah State
Government for road maintenance in
BDB Infra is synonymous with advanced technical know-how and several districts of the state.
quality road works. It has participated in many road construction
projects and maintenance of roads and highways across northern The 36-month project, which commenced
Malaysia. 23 March 2020, includes works in Kota
Setar, Padang Terap/Pokok Sena, Kuala
Originally operating under the name, Syarikat Bina Dan Kuari Kedah Muda, Sik, Kubang Pasu, Kulim/Bandar
Sdn. Bhd., BDB Infra is the pioneer of the quarry industry in the north Baharu, Pendang, Yan, and Baling. As of
and operates the largest granite quarry in Kedah. Bukit Perak Quarry, 31 December 2022, BDB Infra fulfilled 189
situated in Pendang, produces various sizes of crushed aggregates work orders totalling RM72.4 million.
and asphaltic bituminous mix products for the construction of roads,
highways, railway tracks, bridges, houses, land reclamation and other
infrastructure.
The quarry has the capacity to produce 100,000 metric tonnes (“mt”)
of aggregates monthly and based on the current capacity, there is
enough reserves to last over 100 years.
In early 2017, BDB Infra successfully managed a new asphalt premix

plant in Kulim, namely Kulim Kedah Premix Plant (“KKPP”) to cater
to the demands of customers from central to southern Kedah, Penang
and northern Perak.
BDB Infra has vast experience in road maintenance works.

About Us
CORE CAPABILITIES:
Bukit Perak Quarry

Land area: 240 acres.
Facilities: 2 Crusher Plants.
Bukit Perak Quarry.
Capacity: 100,000 mt monthly.
Bukit Perak Quarry. Padang Meha.
Premix Plants
3 Premix Plants: Bukit Perak (2), Padang Meha (1).
Total combined capacity: 5,500 mt daily.
Strategically located covering demand from central and southern Kedah.

About Us
Road Construction
BDB Infra provides comprehensive road construction and
maintenance solutions with a broad selection of reliable
equipment and machinery. Supported by advanced
technological capabilities and expertise, our professional
and skilled workforce delivers optimal construction and
maintenance operations.
Currently fulfiling the three-year State Roads Maintenance
contract secured in March 2020.
Additional Product Line in Quarry: Bitumen Emulsion

In 2022, BDB Infra ventured into producing a new material,
Bitumen Emulsion. This is a new product line in its quarry
business, in addition to the current products of premix and
aggregates. The bitumen emulsion consists of three basic
ingredients: water, bitumen and an emulsifying agent. The
BDB Infra is fully equipped to manage road construction
and maintenance works. emulsion plant was set up in the Kulim Kedah Premix Plant.
New Face Development: Armor Rock

Towards increasing its current product
volume, BDB Infra launched a new product
line, Armor Rock, in 2022.
The process milestones involve:
a) Deposit description: Appointment of
consultant, preparation of topographic
map, Geotech investigation, and
preparation of documents for submission
to relevant authorities.
b) Site preparation: Construction of
access road, timber removal (piling and
disposing), clearing & grubbing, and
overburden disposal.
c) Pit operation and processing:
Development and extraction sequence.
Sale of the new product is encouraging and
BDB Infra has already secured orders in 2022.
Bukit Perak Quarry, Pendang, Kedah.

About Us
BDB SYNERGY SDN. BHD.
BDB Synergy Sdn. Bhd. (“BDB

Synergy”), formerly known as Kedah
Sato Sdn. Bhd., was incorporated
in 1982 as a joint venture between
Kedah State Development Corporation
(“PKNK”) and Sato Kogyo Company
Ltd.
BDB Synergy, now a wholly owned subsidiary of BDB, prides itself
as one of the major participants in the engineering and construction
sector in Malaysia.
BDB Synergy offers a comprehensive range of engineering and

construction services that cater to projects of all sizes, from small-
scale ventures to multi-million-Ringgit undertakings. Our services
include Construction Project Management, General Contracting,
Design & Build, and Pre-construction Planning, covering the entire
spectrum of engineering and construction needs.
Since its inception, BDB Synergy has forged an impressive

track record of delivering major developments and projects
across the engineering and construction realms. BDB Synergy has
successfully completed a diverse range of projects as follows:
Commercial, leisure and residential developments;

In 2022, BDB Synergy completed the non-revenue
Airport, educational, healthcare, and potable water supply water (“NRW”) project in Perlis.
facilities; and
Industrial and civil infrastructures including jetties, roads and As a commitment to operational excellence and
bridges. consistent performance with the core objective of
achieving complete stakeholders’ satisfaction, BDB
BDB Synergy’s competitive advantage lies in its key strengths of: Synergy subscribes to the following industry tools
and standards in its operations:
Diversity and depth of experience;
Quality Assessment System In Construction
Versatility of planning and construction management skills; (“QLASSIC”)
Reliability and highly skilled manpower; and ISO 9001:2015
Embracing a culture of quality, safety and integrity. ISO 14001:2015

ISO 45001:2018

About Us
WATER TREATMENT PLANT, PELUBANG
The RM431 million upgrading works on the Water Treatment Plant (“WTP”) or Loji Rawatan Air (“LRA”) Pelubang to
resolve water supply disruptions in Kuala Kedah and Kubang Pasu, are on track for completion by 2025, as scheduled.
Upgrading works have been progressing well, with 4.72% of the project’s scope of work already completed. Primarily
comprising ground works, this critical phase ensures the stability and durability of the upgraded facility. Upon completion
of the upgrading works, the daily production capacity of the WTP Pelubang will increase by over 50%, from the current
247 million litres to 457 million litres. With the support of our technical partners, BDB Synergy remains committed to
deliver the project as scheduled.
BDB Synergy is on track with upgrading works for WTP Pelubang, the largest water treatment plant in Kedah.

About Us
BDB ROCK MINERAL SDN. BHD.
BDB Rock Mineral Sdn. Bhd. (“BDB Rock Mineral”), formerly known
as BDB Construction Sdn. Bhd., is a one-stop mineral hub in Kedah
that supplies construction materials and provides total management
solutions for mining operations.
The subsidiary company was
established in 2019 with the intent
of catalysing sustainable mineral
development and championing best
practices for the industry in Kedah to
serve the construction sector across
Malaysia.
Despite being a relative newcomer

in the market, BDB Rock Mineral is
spearheaded by a team with vast
experience in finance, business and
technical operations. Collectively,
the team has over 29 years of
experience in mineral development
and logistics, 28 years of industry
knowledge in manufacturing and
services, and 24 years in strategic
marketing.
As a one-stop construction materials

centre, the company offers a range
of services including liaison with
local authorities, material monitoring
system, third party transportation
and logistics and other support
services.
BDB Rock Mineral has established

relationships with various authorities
BDB Rock Mineral diligently and effectively manages sand mining at the and this enables the company to
Kulim Plant, located near Sungai Ular in Kulim, Kedah, while strictly expedite applications for licences
adhering to regulations.
and operational permits.

About Us
Our material monitoring system is state-of-the-art, ensuring check and balance

verification for project sites and providing real-time tracking to personal digital
devices. We have exclusive rights in the Northern Region of Malaysia to use this
technology, which is accessible to stakeholders via various digital operating systems
including Windows, Android and Apple. One of its highlights is the reliability of the
system to quantify business revenue and ensure effective operational costs.
Beyond this, the company also offers other services including surveys and rehabilitation
works to preserve project sites for safety and health purposes. The company also has a
network of third-party contractors to handle transportation and logistics.
BDB Rock Mineral is committed to sustainable mining

operations at Sungai Ular, Kulim Plant.

About Us
Property Development Division
BDB LAND SDN. BHD. The strategic JV project will not only
cement BDB Land’s position as a leading
BDB Land Sdn. Bhd. (“BDB Land”) has player in the property development
industry within Kedah and the Northern
established itself as a reputable leader Region but also enhance its reputation
in township development in Malaysia’s for delivering high-quality, sustainable

properties that meet the needs of diverse
Northern Region. potential property owners.
Founded on 7 April 1981, the company has accumulated 41 years of With an unwavering commitment to
experience, with an impressive track record to its credit. BDB Land is innovation and sustainability, BDB Land
synonymous with prestigious sustainable townships, including: aims to introduce cutting-edge concepts
and state-of-the-art technology in its
Bandar Darulaman, Jitra, a self-sufficient and mature township in the
townships to provide an exceptional
Kubang Pasu district;
living experience to its residents. By
Darulaman Perdana, Sungai Petani, a residential mixed development pursuing this vision, BDB Land aspires
that offers Sungai Petani residents with better quality standards of to play a pivotal role in advancing the
living; socioeconomic agenda of Kedah and
contribute to the region’s growth and
Darulaman Utama, Kuala Ketil, a large-scale township development in
prosperity.
Kuala Ketil that has transformed the Baling district; and
The newly developed townships of Darulaman Saujana, Jitra, and

Darulaman Lagenda in Sungai Petani, aimed to foster sustainable
development and enhance the quality of life for its residents.
In 2022, BDB Land launched 7 units of one-storey bungalows under

the Citra II development project, 9 units of Juwita II, comprising
two-storey bungalow lots and 24 units of Balada II, which are one-storey
semi-detached houses in Bandar Darulaman with a total sales value of
RM21 million.
On 21 August 2022, BDB Lagenda Sdn. Bhd., a joint venture (“JV”)

company between BDB Land Sdn. Bhd. and Lagenda Properties Berhad
launched the first phase of an affordable township, Darulaman Lagenda in
Sungai Petani.
The first phase of Darulaman Lagenda consists of 282 landed homes that
will be built over 27.47 acres of land with a gross development value
(“GDV”) of RM57.6 million.
Simfoni West within the 2,200-acre

Bandar Darulaman in Jitra, Kedah
presents a mixed collection of
harmoniously designed residences
complete with modern amenities.

About Us
Property Development Division
KEDAH HOLDINGS SDN. BHD.
Founded on 2 February 1982, Kedah Holdings Sdn. Bhd.’s (“Kedah

Holdings“) experience spans almost 40 years in developing commercial,
residential and office buildings.
Kedah Holdings has carved its expertise as a niche boutique developer in developing small to medium-sized housing and
commercial projects to meet the discerning demands of a select consumer market in the Kedah state and beyond.
Kedah Holdings‘ portfolio comprises:
Kompleks Alor Setar, a three-storey commercial complex located in Lebuhraya Darulaman in Alor Setar;
Menara BDB, a 10-storey office building that houses BDB’s Headquarters as well as private offices, government and
semi-government agencies;
Taman Nusantara 2A, a housing project on Lot 1198, Mukim Kuala Kedah, Daerah Kota Setar, Kedah Darul Aman, which
consists of one two-storey detached house and 52 units of two-storey twin houses; and
Taman Nusantara 2B, a housing project on Lot 1198, Mukim Kuala Kedah, Daerah Kota Setar, Kedah Darul Aman, which
consists of one semi-detached house and 30 units of two-storey twin homes that were completed in March 2015.
In November 2020, Kedah Holdings signed a joint development agreement with Aman Teamwork Sdn. Bhd. to develop the
remaining phases in Bandar Sejahtera, Pokok Sena.
On 20 September 2021, Kedah Holdings signed a partnership agreement with Nanyang Equity Sdn. Bhd., to jointly develop
84 residential units in Puncak Harmoni, Kuala Kangsar in Perak.
These developments are scheduled for completion in 2026 and 2024, respectively.
Bandar Sejahtera located in Pokok Sena, Kedah

was developed in 2016 over 422 14 acres of
land, featuring 70 residential units. BINA DARULAMAN BERHAD Annual Report 2022 | 11
About Us
Leisure Division
BDB LEISURE SDN. BHD.
BDB Leisure Sdn. Bhd. (“BDB The park boasts a scenic 36-acre lake and a 2.4 km
jogging track. The outdoor gymnasium and the park’s
Leisure”) focuses on managing expansive area provides an ideal venue for outdoor
activities, promoting a healthy lifestyle for families and
various facilities for entertainment, groups.
sports activities, and indoor and Kayaks, boats and bicycles are available for rent
outdoor recreation. while trams and buggy rides are popular activities for
sightseeing, and a hit amongst visitors and children.
Darulaman Park and Darulaman Sanctuary, covering 84 Besides recreational activities, Darulaman Park also
acres and 226 acres of rainforest, respectively, are regarded offers event spaces for rent. The Tent & Gazebo
as hidden gems of Kedah and the island of Langkawi. BDB event hall is suitable for weddings, social gatherings,
Leisure oversees these two crucial developments in order exhibitions, family days and other events. The open
to preserve nature, protect the environment, and promote field areas are also rented out for events such as
better health and wellness for residents, visitors and tourists concerts and carnivals.
alike. The Group’s management approach involves thoughtful
preservation to support ecological protection and restoration, Aside from the Darulaman Park, the Darulaman
thus achieving a balance between economic development and Sanctuary in Langkawi is another popular site
environmental objectives. especially for nature buffs. The gazetted forest reserve
at the foot of Langkawi’s highest point, “Gunung
The Darulaman Park includes the Darulaman Trails, with Raya”, provides a cool getaway from the urban jungle.
infrastructure for various sports and recreational activities. It is It is the best of eco-tourism, as tourists and visitors
popular among residents in the Kubang Pasu district. can observe wildlife such as gibbons, hornbills, exotic
birds and insects, and gain insights into the flora and
fauna of Lubuk Semilang. There are over 100 medicinal
plants along the trail, which have been used by
Langkawi natives for decades.
The 84-acre Darulaman Park in Jitra has a stunning 36-acre lake, making it a popular spot for locals from
Kubang Pasu and neighbouring areas, as well as a top destination for tourists and visitors to the state.

About Us
Leisure Division
BDB DARULAMAN GOLF RESORT BERHAD
BDB Darulaman Golf Resort Berhad (“BDGRB”) has a world-class

standard 18-hole, 190 acres golf course. It has been a destination for
golfers from all over the country since it first opened its doors in 1993.
BDB Darulaman Golf Resort has been the venue for several world-class golf events.
Several professional tournaments have been held here, At Hole 7, BDGRB has installed safety nets to prevent
including the BDB Masters, one of the most anticipated stray golf balls from entering the neighbourhood.
amateur tournaments in the Northern Region. BDGRB has also undertaken golf course repair work such
as hollow tine to soften, tighten and re-compact the grass
Known as the “Pride of the North”, BDGRB is one of the on the green.
golf resorts that provide a full range of resort amenities.
Swimming pools, badminton courts, a gymnasium, To ensure public safety, BDGRB collaborates with the
conference facilities, F&B outlets (Classic Café) and chalets Department of Wildlife and National Parks (“Jabatan
are just a few of the facilities available. Perhilitan“) to ensure that wild animals do not endanger
anyone. Such measures are taken so that people can
BDGRB improved safety and facilities for the surrounding co-exist peacefully with nature, and this ensures that
community and club members in 2020. BDGRB will continue to be one of the best golf clubs in
the Northern Region.

Corporate Structure
BINA DARULAMAN BERHAD

199501003751 (332945-X)
KEDAH HOLDINGS SDN. BHD. BDB LAGENDA SDN. BHD.

198201000874 (80618-U) 202101012211 (1142510-A)
100% 50%
AMAN LAGENDA SDN. BHD.
201401040611 (1116761-P)
BDB LAND SDN. BHD. 100%

198101003170 (69284-P)
100%
DEVELOPMEN
R TY T D
OPE IV BDB LEISURE SDN. BHD.
IS
PR I 201601029874 (1200815-K)
100%
O
EN
N
GI
NE
L E IS
ERIN
URE DIVISIO
BDB DARULAMAN
G C O NS T
GOLF RESORT
BERHAD
199201022806 (254310-M)
98.7%
RU
N
CT
IO
BDBMBI LANGKAWI
N
AN
D VENTURES SDN. BHD.
N 199601014681 (387031-V)
QU IO
BDB ROCK MINERAL
AR R
Y (”ECQ ”) DIV
IS
80%
SDN. BHD.
(Formerly known as BDB
Construction Sdn. Bhd.)
199601001370 (373716-P)
100%
BDB INFRA SDN. BHD. BDB SYNERGY SDN. BHD.
197301002843 (16289-A) 198201002994 (82740-W)
100% 100%

Corporate Information
BOARD OF DIRECTORS
Tuan Sr. Haji Che Had Bin Dhali Tuan Mohamad Ibrahim Bin Ghazali Tuan Haji Muhamad Sobri Bin Osman
Non-Independent Non-Executive Chairman Independent & Non-Executive Director Non-Independent & Non-Executive Director
Dato’ Zakiah Binti Kassim YB Ir. Ts. Khairil Nizam Bin Khirudin Professor Dr. Mohd Suffian Bin Yusoff
Senior Independent Director Independent & Non-Executive Director Independent & Non-Executive Director
YM Raja Shahreen Bin Raja Othman Dato’ Haji Syed Yussof Bin Syed Othman Puan Nawal Binti Hanafiah
Executive Director Non-Independent & Non-Executive Director Independent & Non-Executive Director
BOARD AUDIT COMMITTEE BOARD INVESTMENT COMMITTEE AUDITORS
Tuan Mohamad Ibrahim Bin Ghazali Tuan Haji Muhamad Sobri Bin Osman KPMG PLT
Chairman Chairman Level 18, Hunza Tower,
163E Jalan Kelawei,
Dato’ Zakiah Binti Kassim Dato’ Haji Syed Yussof Bin Syed Othman
10250 Pulau Pinang.
Member Member
Tel : +604 375 1800
YB Ir. Ts. Khairil Nizam Bin Khirudin YM Raja Shahreen Bin Raja Othman Fax : +604 238 2222
Member Member
PRINCIPAL BANKS
BOARD RISK COMMITTEE BOARD SUSTAINABILITY COMMITTEE
Maybank Islamic Bank Berhad
YB Ir. Ts. Khairil Nizam Bin Khirudin Puan Nawal Binti Hanafiah 1535, Jalan Sultan Badlishah,
Chairman Chairman 05710 Alor Setar,
Kedah Darul Aman.
Tuan Mohamad Ibrahim Bin Ghazali Tuan Mohamad Ibrahim Bin Ghazali
Tel : +604 731 3855
Member Member
Fax : +604 733 1550
Tuan Haji Muhamad Sobri Bin Osman Professor Dr. Mohd Suffian Bin Yusoff
Member Member Affin Islamic Bank Berhad
147 & 148, Susuran Sultan,
Abdul Hamid 8, Kompleks,
BOARD NOMINATION, REMUNERATION COMPANY SECRETARY
Sultan Abdul Hamid Fasa 2,
& ESOS COMMITTEE
Khairulmuna Binti Abd Ghani Persiaran Sultan Abdul Hamid,
Dato’ Zakiah Binti Kassim SSM PC No. 202208000505 05050, Alor Setar,
Chairman LS 0008190 Kedah Darul Aman.
Tel : +604 772 1477
Dato’ Haji Syed Yussof Bin Syed Othman
Fax : +604 771 4796
Member REGISTERED OFFICE
Puan Nawal Binti Hanafiah Level 9, Menara BDB, STOCK EXCHANGE LISTING
Member 88, Lebuhraya Darulaman,
Listed on the Main Board of
05100, Alor Setar, Kedah Darul Aman.
Bursa Malaysia Securities Berhad
Tel : +604 730 0303
BOARD PROCUREMENT COMMITTEE Stock Name : BDB
Fax : +604 734 2714
Stock Code : 6173
Professor Dr. Mohd Suffian Bin Yusoff E-mail : [email protected]
Chairman Website : www.bdb.com.my
Dato’ Zakiah Binti Kassim

Member
Tuan Haji Muhamad Sobri Bin Osman

Member

Board of Directors
1. Tuan Sr. Haji Che Had Bin Dhali 3. YM Raja Shahreen Bin Raja Othman
Non-Independent Non-Executive Chairman Executive Director
2. Dato‘ Zakiah Binti Kassim 4. Tuan Mohamad Ibrahim Bin Ghazali

Senior Independent Director Independent Non-Executive Director
3 1 2 4

Board of Directors
5. YB Ir. Ts. Khairil Nizam Bin Khirudin 8. Professor Dr. Mohd Suffian Bin Yusoff
Independent Non-Executive Director Independent Non-Executive Director
6. Dato‘ Haji Syed Yussof Bin Syed Othman 9. Puan Nawal Binti Hanafiah
Non-Independent Non-Executive Director Independent Non-Executive Director
7. Tuan Haji Muhamad Sobri Bin Osman

Non-Independent Non-Executive Director
7 6 5 8 9

Board of Directors’ Profile

Background Academic & Professional Qualifications
Tuan Sr. Haji Che Had Bin Dhali started his Bachelor in Surveying (Valuation &
career in valuation and asset consultancy Property Management), Universiti
services with Jones Lang Wootton, moving
Teknologi Malaysia (“UTM“)
on to Arthur Lim Valuers, Henry Butcher and
Lim & Long (N) E. A. Sdn. Bhd. In 1992, Master in Business Administration,
he joined JB Jurunilai Bersekutu Sdn. Bhd. Universiti Utara Malaysia (“UUM“)
(“JBSB”) which he eventually left after
serving as Executive Director. In 2008, Registered Valuer, Estate Agent and
he was invited to join the Kedah State Property Manager Board of Valuers,
Government (“KSG“) as Special Officer Estate Agents & Property Manager
cum Economic and GLC (“Government- Malaysia (“BOVEAP“)
Linked Company”) Advisor to the former
Chief Minister of Kedah, during which time International Valuation Specialist,
he also served on the boards of other state International Association of Certified
GLCs until 2010. Valuation Specialists (“IACVS“)
Tuan Sr. Haji Che Had During his tenure with the KSG, Sr. Haji
Fellow Member, Royal Institution of
Bin Dhali, S.D.K.,B.K.M. Che Had was instrumental in promoting
Surveyors Malaysia (“FRISM“)
Kedah’s products and services to numerous
AGE
countries including Australia, Papua New
58 Fellow Member, Association of Valuers
Guinea, Thailand, Indonesia, the United
& Property Consultants in Private
Kingdom, Holland, Germany, Denmark,
Chairman Practice (“FPEPS“)
Qatar, Dubai, Bahrain, Egypt, Iran, and
Non-Independent Non-Executive
Yemen. Member, Royal Institute of Chartered
Date of Appointment as Chairman Surveyors (“MRICS“)
In his 33 years in property consultancy,
1 February 2022
he specialised in corporate valuation and
Member, Malaysian Institute of Estate
Date of re-designation as consultancy for land acquisition cases,
and market and feasibility studies for large Agents (“MMIEA“)
Executive Chairman
14 April 2022 developments. He was recently certified by
Member, Business Valuers Association
the International Association of Certified
Date of Re-designation as Chairman Malaysia (“MBVAM“)
Valuation Specialists (“IACVS“) and is now
16 October 2022 a Registered Valuer cum Registered Estate
Agent for IM Global Property Consultants
Date of Last Re-election
and currently heads the branch in Kedah.
26 May 2022
Sr. Haji Che Had first joined Bina Darulaman
Securities Holdings
Berhad (“BDB”) when he was appointed
None
as a Non-Independent Non-Executive
Director on 3 April 2008 and was
subsequently re-designated as an
Board Committee Memberships independent director, before leaving
NIL BDB on 30 May 2013. He was appointed
as Chairman of the Company on 1 February
Other Directorships in Public Listed 2022, and re-designated as Executive
Companies Chairman on 14 April 2022, a position he
None held until 16 October 2022. Thereafter,
he remained part of the Board as Non- DISCLAIMER
Attendance at Board Meetings in 2022 Tuan Sr. Haji Che Had does not have any family
Independent Non-Executive Chairman.
Present at all 10 meetings held during the relationship with any Director and/or any major
Financial Year He was awarded the “Bintang Kebaktian shareholder of the Company nor any conflict
Masyarakat (“BKM“) and Setia DiRaja of interest with the Company. He has not been
Attendance at Previous AGM Kedah (“SDK“)” by the KDYMM Tuanku convicted of any offence in the past five years
Present Sultan Kedah in 2009 and 2022, respectively, (other than traffic offenses, if any) and has not had
in recognition for his contribution to the any public sanction or penalty imposed by any
state. relevant regulatory body during the financial year.

Dato‘ Zakiah began her career as a Legal Bachelor of Law, Universiti Malaya
Officer at the High Court of Kuala Lumpur
in June 1983, before moving on to the High
Court of Pulau Pinang the following year as
Senior Assistant Registrar.
Dato’ Zakiah was appointed as a Director of

the Legal Aid Bureau of Negeri Sembilan in
1984, and she left to become Magistrate of
the Court of Kuala Lumpur in 1986. In 1991,
she was promoted to Sessions Court Judge
in Kuala Lumpur.
After being appointed as a legal advisor

Dato’ Zakiah Binti Kassim at the Ministry of Housing & Local
Government, Dato‘ Zakiah entered the
AGE
executive branch of the Government a
64
year later. Prior to taking on the position of
Senior Independent Federal Counsel at the Ministry of Finance
Non-Executive Director in 1999, she was employed as a Secretary
at Perbadanan Putrajaya in 1997.
Date of Appointment
6 September 2020 Before joining the Kedah State as a legal
Date of Re-designation as Senior advisor in 2005, Dato‘ Zakiah was appointed
Independent Non-Executive Director as Legal Officer in the drafting division at
6 December 2021 the Attorney General’s Chambers in 2000.
She held this position for four years.
23 September 2021 In 2009, Dato’ Zakiah became Chairman of
the Board Advisory in the Prime Minister‘s
Securities Holdings
None Department before returning to the judiciary
following her appointment as Judicial
Commissioner at the High Court of Johor
Bahru, Johor in the same year. She accepted
Board Committee Memberships
a transfer to the High Court of Alor Setar,
Chairman, Board Nomination,
Kedah in 2010 and was with the High Court
Remuneration & ESOS Committee
of Shah Alam, Selangor for two years until
Member, Board Audit Committee
her retirement in 2017.
Member, Board Procurement
Committee
Other Directorships in Public Listed

Companies
None DISCLAIMER
Dato’ Zakiah does not have any family relationship
Attendance at Board Meetings in 2022 with any Director and/or any major shareholder
Present at all 11 meetings held during of the Company nor any conflict of interest with
the Financial Year the Company. She has not been convicted of
any offence in the past five years (other than
Attendance at Previous AGM traffic offenses, if any) and has not had any public
Present sanction or penalty imposed by any relevant
regulatory body during the financial year.

YM Raja Shahreen Bin Raja Othman Bachelor of Accounting, La Trobe

(“YM Raja Shahreen”) started his career University, Melbourne, Australia
at Ernst & Young in 1989, continuing to
Member, Malaysian Institute of
serve as Director from 2000 to 2004. Accountants
On 1 March 2004, he accepted the
Chief Financial Officer’s position at Member, Australia Society of Certified
Pos Malaysia Bhd, later moving on as Practising Accountants
General Manager cum Chief Financial Completed Harvard Business School’s
Officer/Company Secretary at Oman Senior Management Development
Oil Marketing Company SAOG, a Programme
public listed Company in Oman from
1 November 2007 until 30 June 2013.
YM Raja Shahreen
YM Raja Shahreen’s illustrious career saw
Bin Raja Othman him serving as Chief Financial Officer
AGE
of Duta Klasik Sdn. Bhd. for a year,
55 following which he held the position of
Executive Director Group Chief Executive Officer of Menteri
Besar Selangor (Incorporated). He was
Date of Appointment
subsequently appointed as a Non-
1 November 2022
Independent Non-Executive Director of
Date of Last Re-election Kumpulan Perangsang Selangor Berhad
Nil on 31 March 2015 before being re-
Securities Holdings designated as Non-Executive Chairman
None on 21 June 2018. He was appointed as
BDB’s Group Chief Executive Officer on 1
November 2022 .

Member, Board Investment
Committee

Companies
None
Attendance at Board Meetings in 2022

Present at 1 meeting held since his
appointment to the Board during the
Financial Year.
Attendance at Previous AGM DISCLAIMER

YM Raja Shahreen does not have any family
Not Applicable
relationship with any Director and/or any major
shareholder of the Company and has no conflict
of interest with the Company. He has not been
convicted of any offence over the past five years
(other than traffic offenses, if any) and has not had
any public sanction or penalty imposed by any
relevant regulatory body during the financial year.

Mohamad Ibrahim Bin Ghazali started his Advanced Diploma in Accountancy

career as an auditor in May 1988 where (“ADIA“), equivalent to Bachelor
he was involved in the audits of various in Accountancy (Hons.), Universiti
governmental agencies, legal firms, and Teknologi Mara (“UTM“)
conglomerates. Two years later, he joined Member, Malaysian Institute of
the Shapadu Group of Companies as an Accountants (MIA 20637)
internal auditor.
Licensed Company Secretary
In January 1995, Mohamad Ibrahim was (202005001136)
appointed as Finance Manager at METC
Holdings Sdn. Bhd. before assuming greater
responsibilities as Senior Finance Manager
from September 1996 to October 1999. He
Tuan Mohamad Ibrahim
subsequently took on the role of Financial
Bin Ghazali Controller at ARZ Group of Companies in
AGE
November 1999. Promoted to General
58 Manager in 2005, he was responsible for
Independent Non-Executive Director identifying future business opportunities,
reviewing corporate planning, and handling
Date of Appointment
all legal and secretarial matters for the
14 December 2020
group.
In 2009, Mohamad Ibrahim formed his own
23 September 2021
firm MIG Associates (NF 0974), focusing on
Securities Holdings tax, corporate secretarial, accounting, and
None management advisory services.

Chairman, Board Audit Committee
Member, Board Risk Committee
Member, Board Sustainability
Committee

Companies
None

Present at all 11 meetings held during
the Financial Year. DISCLAIMER
Attendance at Previous AGM Mohamad Ibrahim does not have any family
Present
shareholder of the Company nor any conflict
convicted of any offence in the past five years

Dato‘ Haji Syed Yussof Bin Syed Othman‘s Diploma in Accountancy, Universiti
service in financial services began with Teknologi MARA
Public Bank Berhad followed by Amanah
Capital Berhad. Bachelor of Business Administration,
Universiti Teknologi MARA
In 1994, he began working as a Senior
Manager for Perbadanan Kemajuan Negeri
Kedah (“PKNK“). From 2005 to 2011, he was
seconded to BDB Infra Sdn. Bhd. (“BISB“),
a subsidiary of BDB, with his last position
there as General Manager.
In 2011, Dato’ Haji Syed Yussof returned

to PKNK and was promoted as Head
of Business Development. He was also
Dato’ Haji Syed Yussof appointed as a board member of PKNK’s
Bin Syed Othman subsidiaries including Kedah Medical
Centre Sdn. Bhd. and Kulim Technology
AGE
61 Park Corporation Sdn. Bhd. He has been
serving as the Chief Executive Officer of
Non-Independent PKNK since 12 November 2020.
Non-Executive Director
Date of Appointment
14 December 2020
Date of last Re-election

23 September 2021
Securities Holdings
None

Member, Board Nomination,
Remuneration & ESOS Committee
Member, Board Investment
Committee

Companies
None

Present at all 11 meetings held during DISCLAIMER
the Financial Year Dato’ Haji Syed Yussof does not have any family
Attendance at Previous AGM shareholder of the Company nor any conflict
Present of interest with the Company. He has not been

YB Ir. Ts. Khairil Nizam Bin Khirudin began Bachelor (Hons) in Mechanical
his career in PETRONAS Research and Engineering, Universiti Teknologi
Scientific Services Malaysia in 2002. He PETRONAS
continued his career path within PETRONAS,
holding various positions in the Research & Master of Science in Asset Maintenance
Technology Sector, the Gas Sector and the and Management, Universiti Teknologi
PETRONAS
Exploration & the Production Sector.
He left PETRONAS in 2013 to expand his

horizons and grew his career with several
International Oil and Gas companies namely
Talisman Malaysia Limited, REPSOL Oil &
Gas Malaysia Limited and Hibiscus Oil and
Gas Malaysia Limited.
YB Ir. Ts. Khairil Nizam YB Ir. Ts. Khairil Nizam was appointed by
Bin Khirudin the Yang Di-Pertuan Agong, Al-Sultan
Abdullah Ri’ayatuddin Al-Mustafa Billah
AGE
44 Shah Ibni Almarhum Sultan Haji Ahmad
Shah Al-Musta’in Billah, as Senator and
Independent Non-Executive Director Member of the Senate of the Parliament of
Malaysia in 2020. He served as Senator until
Date of Appointment
19 November 2022 following his win in
6 September 2020
GE15.
23 September 2021
Securities Holdings
None

Chairman, Board Risk Committee
Member, Board Audit Committee

Companies
None

Present at all 11 meetings held during
the Financial Year
Attendance at Previous AGM DISCLAIMER

Present YB Ir. Ts. Khairil Nizam does not have any family
shareholder of the Company nor any conflict

Haji Muhamad Sobri Bin Osman began his Bachelor of Applied Science
career in 1984 as a Production Engineer (Electronics), Universiti Sains Malaysia
at Hitachi Semiconductor Sdn. Bhd. and
Master of Business Administration,
was promoted to Industrial Engineering
Universiti Sains Malaysia
Manager, a post he held for ten years. He
then moved on to the Human Resources Certified Training Professional, Institute
and Training & Development department in of Training and Development
Renesas Semiconductor Sdn. Bhd.
Prior to his retirement in 2013, Haji

Muhamad Sobri led the team which
established the Kulim Technology Park as
the premier location for capital-intensive,
high-technology manufacturing, advanced
Tuan Haji Muhamad Sobri technologies, and R&D operations. He was
appointed to lead Kulim Technology Park
Bin Osman
Corporation in 2008.
AGE
63 On 1 September 2020, he was appointed
as Chief Executive Officer of Menteri Besar
Non-Independent
Kedah Incorporated (“MBI”) and other MBI
Non-Executive Director
subsidiary companies.
Date of Appointment
6 September 2020

23 September 2021
Securities Holdings
None

Chairman, Board Investment
Committee
Member, Board Procurement
Committee
Member, Board Risk Committee

Companies
None
DISCLAIMER
Attendance at Board Meetings in 2022 Haji Muhamad Sobri does not have any family
Present at all 11 meetings held during relationship with any Director and/or any major
the Financial Year. shareholder of the Company nor any conflict
Attendance at Previous AGM convicted of any offence in the past five years
Present (other than traffic offenses, if any) and has not had

In 2000, Professor Dr. Mohd Suffian Bin Doctor of Philosophy (PhD) in

Yusoff (“Prof. Dr. Suffian”) was employed as Environmental Engineering, Universiti
a Research Assistant in the Landfill Leachate Sains Malaysia
at Universiti Sains Malaysia (“USM”). MSc in Mineral Resources Engineering,
Following this, he continued as a Research Universiti Sains Malaysia
Fellow from 2001 until 2003. He worked
as a Manager at Idaman Bersih Sdn. Bhd. Bachelor of Agricultural Science (Hons),
Universiti Pertanian Malaysia
from 2004 to 2006 before being promoted
to Senior Manager in 2006. Leaving
Idaman Bersih Sdn. Bhd. in 2007, Professor
Dr. Suffian joined USM as a lecturer and
in 2017 he became a Professor in
Environmental Engineering. He is also the
present Dean of Civil Engineering at the
Professor Dr. Mohd Suffian university.
Bin Yusoff
AGE
53
Independent Non-Executive Director
Date of Appointment
16 June 2022

Nil
Securities Holdings
None

Chairman, Board Procurement
Committee
Member, Board Sustainability
Committee

Companies
None

Present at all 5 meetings held since his
appointment to the Board during the DISCLAIMER
Financial Year. Professor Dr. Mohd Suffian does not have any
family relationship with any Director and/or any
Attendance at Previous AGM major shareholder of the Company nor any conflict
Not Applicable of interest with the Company. He has not been

An alumni of Harvard Business School‘s B.Sc. in Economics,

Senior Management Development Northern Illinois University
Programme 2010, Nawal has 35 years
of experience in both the professional
services and the commercial sector,
primarily in human resources.
A dedicated and performance-driven

human resource professional, she
participated in the evolution of human
resources, a field that has become
increasingly complex and challenging.
In her last executive role, Nawal was the

Puan Nawal Binti Hanafiah human resource strategy architect for the
various human resource initiatives in a
AGE
59 public listed investment holding company
with diversified interests ranging from
Independent Non-Executive Director plantation, pharmaceuticals, property
Date of Appointment management & development, hotels,
26 September 2022 heavy industries and trading & finance.
A strong leader and an astute business
Date of Last Re-election partner and motivator, she is mindful of
Nil balancing employee needs with company
Securities Holdings culture, vision and mission. She has strong
None interpersonal and organisational skills
and is adept in conflict resolution and
negotiation.
Board Committee Memberships Nawal has held the positions of Secretary
Chairman, Board Sustainability and Vice President in the Commercial
Committee Employers Association of Malaysia,
Member, Board Nomination, and has been an IR Panel member of
Remuneration & ESOS Committee. the Malaysian Employers’ Federation
(“MEF”) and a member of Jemaah
Rayuan Keselamatan Sosial, PERKESO
Companies
and Mahkamah Industri Malaysia. She
None
also has international exposure in
Attendance at Board Meetings in 2022 Indonesia and Ghana.
Present at all 2 meetings held since her
appointment to the Board during the In August 2021, she opted for early
Financial Year. retirement to focus on her family and
pursue other personal interests. DISCLAIMER
Attendance at Previous AGM Nawal does not have any family relationship
Not Applicable with any Director and/or any major shareholder
of the Company nor any conflict of interest with
the Company. She has not been convicted of
any offence in the past five years (other than
traffic offenses, if any) and has not had any public
sanction or penalty imposed by any relevant
regulatory body during the financial year.

Senior Management
From left to right:
Mohd Sobri Bin Hussein

Executive Vice President II (“EVP II“) & Chief Operating Officer
YM Raja Shahreen Bin Raja Othman

Group Chief Executive Officer/Executive Director
Mohd Iskandar Dzulkarnain Bin Ramli

Executive Vice President I (“EVP I“) & Chief Corporate Officer
Note: Please refer to page 20 for YM Raja Shahreen Bin Raja Othman’s complete profile.

Senior Management Profile
Mohd Iskandar Dzulkarnain Bin Ramli was Bachelor of Accounting,

appointed as Executive Vice President I Universiti Islam Antarabangsa
(“EVP I”) - Strategy, Finance & Corporate
Certified Financial Modelling
Services/Chief Corporate Officer (“CCO”)
Professional (“CFMP”)
on 1 November 2020. His role and
function are to oversee the financial, Member, Malaysian Institute of
corporate services, strategy, corporate Accountants
risk management and legal matters. The
Member, Institute of Internal Auditors
key objective is to prepare the company’s
Malaysia
readiness to take up the business
challenges upon completion of the Member, Malaysian Association of Risk
Corporate Turnaround/Recovery Plan. and Insurance Management
On 1 December 2018, Iskandar was

appointed as Chief Operating Officer
Mohd Iskandar Dzulkarnain and his primary role was to lead all the
Bin Ramli subsidiaries on operational matters,
focusing on strategy and leading the
AGE
39 turnaround of the Company. During the
turnaround phase, he was selected by
Executive Vice President I (“EVP I“) the Board as a Key Turnaround Member
& Chief Corporate Officer to improve the Group’s Financial and
Operational Performance.
Securities Holdings
None He first joined BDB in 2014 as Head of
Group Corporate Planning and Enterprise
Risk Management (“GCPERM”), where
Other Directorships in Subsidiary his primary role was to lead, monitor
Companies and coordinate the integrated business
BDB Land Sdn. Bhd. viability of the Group’s business strategy,
assess risk on new business opportunities
Kedah Holdings Sdn. Bhd.
such as commercial development, land
BDBMBI Langkawi Ventures Sdn. Bhd. development and corporate exercises and
BDB Darulaman Golf Resort Berhad its execution.
BDB Hotels Sdn. Bhd. Prior to joining BDB, Iskandar served
BDB Rock Mineral Sdn. Bhd. numerous companies including Khazanah
(formerly known as BDB Construction Nasional Berhad, Kumpulan Perangsang
Sdn. Bhd.) Selangor Berhad and SapuraCrest
Petroleum Berhad. Iskandar’s experience
includes a broad range of strategic
risk management, including Strategic
Development Risk in reviewing key projects DISCLAIMER
Iskandar does not have any family relationship with
namely the Malaysia-China Kuantan
any Director and/or any major shareholder of the
Industrial Park, Kuantan Port Expansion Company and has no conflict of interest with the
(“KPE”) and the Special Water Project Company. He has no conviction of any offences
Restructuring Programme at a Federal over the past five years (other than traffic offences,
Government statutory body. if any) and no public sanction or penalty imposed
by the relevant regulatory bodies during the
financial year.

Senior Management Profile
Mohd Sobri Bin Hussein joined Kedah • Bachelor of Engineering (Civil

Sato Sdn. Bhd. (before it was rebranded as Engineering), University of
BDB Synergy Sdn. Bhd.) in 1994 as a Site Wollongong, Australia
Engineer.
In recognition of his contribution to the

BDB Group, he was promoted to General
Manager of BDB Construction Sdn. Bhd. in
January 2003. He managed the company
for 18 months before returning to BDB
Synergy as General Manager in 2004. In
2011, he was transferred to BDB Infra Sdn.
Bhd. as General Manager.
On 1 January 2014, Mohd Sobri was

Mohd Sobri Bin Hussein appointed as Executive Director of BDB
Infra, a position he currently holds. He was
AGE also appointed as an Exco Member on 16
57
March 2018 and served until 2 December
2018.
Executive Vice President II (“EVP II“)
& Chief Operating Officer During the COVID-19 Pandemic, he
implemented a chilli fertigation project as
Securities Holdings
None another source of income for BDB Leisure
Sdn. Bhd. He also successfully outsourced
excess BDB employees to Darulaman Golf
Resort Berhad and Fantasia Aquapark and
Other Directorships in Subsidiary relocated them to other subsidiaries.
Companies On 1 November 2020, he was appointed
BDB Infra Sdn. Bhd. as BDB’s Executive Vice President II (“EVP
II”) – Operations & Chief Operating Officer
BDB Rock Mineral Sdn. Bhd.
to oversee the operations of BDB Group.
(formerly known as BDB Construction
He helmed BDB as Acting President/Group
Sdn. Bhd.)
Chief Executive Officer from 4 February
BDBMBI Langkawi Ventures Sdn. Bhd. 2022 until 30 June 2022, thereafter
resuming his previous position as Executive
Vice President II (“EVP II”) – Operations &
Chief Operating Officer of the Company.
DISCLAIMER
Mohd Sobri does not have any family relationship
with any Director and/or any major shareholder of
the Company nor any conflict of interest with the
Company. He has not been convicted of any offence
in the past five years (other than traffic offenses, if
any) and has not had any public sanction or penalty
imposed by any relevant regulatory body during the
financial year.

5-Year Group
Financial Highlights
2018 2019 2020 2021 2022
RM‘000 RM‘000 RM‘000 RM‘000 RM‘000
For the Year
Revenue 203,390 248,220 219,585 207,729 231,370
Gross profit 11,762 52,180 43,618 34,784 48,142
Earnings Before Interest, Taxes, (21,218) 26,229 24,250 20,070 22,151

Depreciation and Amortisation
(“EBITDA”)
Profit/(Loss) Before Taxation (39,334) 6,799 8,534 7,770 9,044
Net Profit/(Loss) Attributable to (42,204) 4,707 5,292 5,387 5,597

Owner of The Company
Profit After Tax and After (42,226) 4,707 5,270 5,366 5,559
Minority Interest (“PATAMI”)
Per Share
Share Capital 331,020 331,020 331,020 331,020 331,020
Earnings Per Share (Sen) (13.89) 1.55 1.74 1.77 1.84
Shareholders’ Funds 458,662 463,369 468,639 471,752 475,032
Net Tangible Assets Per Share (RM) 1.51 1.52 1.54 1.55 1.56
Dividend Per Share (Sen) NIL NIL NIL 0.75 0.75
Dividend Payment (Net) NIL NIL NIL 2,273 2,279
Financial Ratios
Total Assets 745,010 745,627 734,308 716,321 717,129
Total Liabilites 286,348 282,258 265,669 244,569 242,097
Total Borrowings 156,651 131,603 124,433 104,975 91,517

5-Year Group Financial Highlights
REVENUE (RM‘000) PROFIT/(LOSS) BEFORE TAX (RM’000)
2022 231,370 2022 9,044
2021 207,729 2021 7,770
2020 219,585 2020 8,534
2019 248,220 2019 6,799
2018 203,390 2018 (39,334)
0 50 100 150 200 250 300 -40 -30 -20 -10 10 20 30 40
NET PROFIT/(LOSS) ATTRIBUTABLE TO

OWNER OF THE COMPANY (RM’000) SHAREHOLDERS’ FUNDS (RM‘000)
2022 5,597 2022 475,032
2021 5,387 2021 471,752
2020 5,292 2020 468,639
2019 4,707 2019 463,369
2018 (42,204) 2018 458,662
-50 -40 -30 -20 -10 10 20 30 40 50 0 100 200 300 400 500
TOTAL ASSETS (RM‘000) TOTAL BORROWINGS (RM’000)
2022 717,129 2022 91,517
2021 716,321 2021 104,975
2020 734,308 2020 124,433
2019 746,627 2019 131,603
2018 745,010 2018 156,651
0 100 200 300 400 500 600 700 800 0 50 100 150 200

Investor Relations
As a leading player in the ECQ, Property Development and Leisure businesses in the northern corridor of Malaysia,
continually providing pertinent financial and relevant information as part of our Investor Relations (“IR“) engagement
initiatives is a key component of our commitment to upholding the highest standards of corporate governance and
stakeholder engagement.
BDB’S RESURGENCE AND RECOVERY
Revenue and profitability for the Group improved in FY2022, reflecting our steady recovery from the impact of the
pandemic. To get back on track, BDB adopted new norms and improved methods to re-establish workflow. We are
rebuilding and expanding in new ways while maintaining regular engagement channels and communication with our
multi-stakeholder groups despite the disruptions. To ensure stakeholders are apprised on time, we disseminated regular
updates on our strategic direction, business recovery plans, operational performance, progress on current projects,
financial information, and growth and sustainability initiatives, even through we were facing difficult periods. Our consistent
efforts to maintain transparent communication and provide regular updates have enabled investors and analysts to make
informed investment decisions.
Guided by the Group‘s goals and priorities, we have entrusted the Chief Corporate Officer, together with the Company
Secretary, the Heads of Corporate Services and Business Divisions, Corporate Communications, Human Resources, and
Administration, with the joint responsibility for the Group‘s Investor Relations-related activities.
SHAREHOLDER BASE AND VALUE AS A SHARIAH-COMPLIANT COMPANY
As of 31 March 2023, the shareholder base stood at 3,495. PKNK is our major shareholder, with an equity holding of
60.7% of the total share capital and the remaining balance is held by public shareholding. As a Shariah-Compliant company,
BDB is committed to responsible investments that are free from usury, gambling and ambiguity in striving for sustainable
profitability.
BUILDING MEANINGFUL CONNECTIONS
BDB‘s 27th Annual General Meeting (“AGM“) held on 26 May 2022, was conducted entirely via live streaming due to the
Government-declared MCO. Prior to the AGM, Executive Vice President I & Chief Corporate Officer Mohd Iskandar
Dzulkarnain Bin Ramli presented the key highlights of the Group‘s performance in FY2021. Shareholders approved all
resolutions set out in the Notice of Annual General Meeting (“AGM“) dated 27 April 2022, through a poll. Following the
proceedings, attending shareholders actively participated in the Q&A session. The outcome of the AGM was published on
our corporate website, www.bdb.com.my.
In compliance with the Main Market Listing Requirements of Bursa Malaysia and the Malaysian Code on Corporate
Governance 2021 guidelines, we submit timely and comprehensive announcements on our quarterly and annual
financial results to Bursa Malaysia, which are available for viewing on our dedicated Investor Relations portal
https://bdb.com.my/investor-centre/ on the corporate website. Additionally, we continuously update our website with the
latest information, including annual reports, Bursa Malaysia announcements, quarterly results and corporate information.
For further details on our Stakeholder Engagement for FY2022, please refer
to the Sustainability Statement segment of this Annual Report.
WEBSITE, IR WEBSITE/PORTAL & EMAIL ADDRESS
• For specific investor-related queries and feedback, we

provide a dedicated email address [email protected]. BDB Share Average Daily Volume 2022 (shares)
• Please visit our Investor Relations portal https://bdb.com.my/

investor-centre/ for more information. RM0.27
Financial Calendar
FINANCIAL YEAR ENDED 31 DECEMBER 2022
ANNOUCEMENT OF RESULTS
First Quarter Fourth Quarter

30.05.2022 28.02.2023
Second Quarter Notice of Annual General Meeting

30.08.2022 13.04.2023
Third Quarter Annual General Meeting

30.11.2022 08.06.2023
Share Price Movement

0.900
0.850
0.800
0.750
0.700
0.650
0.600
0.550
0.500
0.450
0.400
0.391
0.350
0.315
0.300
0.250
60m
40m
20m
1.091m
827.8k
Apr May Jun Jul Aug Sep Oct Nov Dec 2023 Feb 2023-03-27
Summary
Highest price during this period : RM0.53 on 4 April 2022
Lowest price during this period : RM0.26 on 11 July 2022
Highest volume during this period : 40.641 million on 4 April 2022

BDB Infra premix operations at the Kulim Kedah Premix Plant

at Padang Meha, Kulim, Kedah.

CREATING
VALUE
We believe the best way to
create value is to improve upon
everything we do. We are focusing
on what is important, innovating
at every turn, optimising the way
we work and striving for excellence
in every aspect of our operations.
The Chairman’s Statement presents an overview of the progress achieved by

Bina Darulaman Berhad (“BDB“ or “the Group“) in the financial year ended
31 December 2022 (“FY2022“) in fulfiling its mandate as a Kedah state
investment holding company and its responsibility towards shareholders and
other stakeholders as a corporate entity.
This is followed by the Management Discussion & Analysis (“MD&A“) to
convey the Management‘s perspective on the operating performance and
financial review of the Group in FY2022. We recommend reading the MD&A
along with the Financial Statements, notes thereto and other information
included in the Annual Report.
Significant details on the Group‘s business operations, performance and
strategy, as well as on its financial review and position, governance, risks and
capital management, are covered in the MD&A. Your attention is also drawn
to sections on our human capital development and sustainability efforts. This
MD&A contains forward-looking statements that are provided to enable
investors to gauge BDB‘s business prospects and make informed investment
decisions. However, they involve inherent risks, uncertainties, and other
factors often beyond our control. The forward-looking statements include, but
are not limited to, for instance, our 2023 business prospects and outlook, as
well as our expectations concerning the macroeconomic and socio-geographic
conditions and their anticipated impact on the Group‘s business operations.
We have endeavoured, wherever possible, to identify such statements by
using words such as anticipate‘, expect‘, intend‘, plan‘, believe‘, and words
of similar substance in connection with any discussion of future performance.
Although BDB believes that the expectations of its Management as reflected
by such forward-looking statements are reasonable based on current
information, no assurance can be given that such expectations will prove
correct. Should one or more risks and uncertainties materialise, actual results
may vary materially from those anticipated or projected.

Chairman’s Statement
“Going forward in
this endemic phase,
BDB is optimistic
that we can reach
greater heights in
terms of growth
and expansion of
our business.”
Tuan Sr. Haji Che Had Bin Dhali, S.D.K, B.K.M.

Chairman

Dear Valued Shareholders,
It is my pleasure, on behalf of the Board of Directors (“the Board“), to

present the Annual Report and Audited Financial Statements of BDB for
the Financial Year ended 31 December 2022 (“FY2022“), underscoring how
the collective resolve and resilience of our employees and the management
team under the stewardship of the Board succeeded in sustaining positive
returns for the Group during the year in review.
I am pleased to report that your Company has made significant progress in

the past year in our three core sectors of Engineering, Construction, and
Quarry (“ECQ“); Property Development; and Leisure. Despite the challenges
posed by the pandemic, we successfully adapted and continued to deliver
value to our stakeholders through prudent financial management, operational
excellence and innovative solutions.
Explore and experience the wonders of the rainforest at Darulaman Sanctuary in Lubuk Semilang, Langkawi.
37
SUSTAINING GROWTH, CREATING FUTURE Although sustainable designs in infrastructure and property
development are not currently mandatory for compliance in Malaysia,
Our Sustaining Growth, Creating Future the potential advantages are significant. Therefore, it is critical to
approach is two-fold and is particularly recognise the urgency of creating and adhering to a roadmap, even
relevant to the Group’s core businesses as we continuously focus on recovery and digital transformation,
as these industries are directly correlated
to ensure preparedness as ESG compliance gains momentum.
to economic growth and development of
Navigating the volatile landscape of FY2022, the pivot towards
communities in Kedah.
digital tools and platforms to stay connected and communicate more
effectively resulted in better connectivity among our employees,
Firstly, BDB plays a vital role in creating job
widening outreach and enriching engagement with our customers,
opportunities, enhancing economic activity and
stimulating growth in various related sectors clients and multi-stakeholders. At the same time, BDB maintained
in Kedah. These industries provide excellent the effective measures implemented in the previous reporting period
opportunities for government agencies, (“FY2021“) to optimise our resources and improve cost efficiencies
private sector entities and communities to own to prevail against persistent headwinds from a challenging operating
and invest in housing, office and commercial environment.
buildings, as well as tourism infrastructure that
can benefit society as a whole.
Secondly, focusing on sustainable growth

and development in these industries can
lead to more sustainable and resilient
communities. A key imperative is how we
factor in effective programmes and roadmaps
for the environmental, social and governance
(“ESG“) aspects in our business and corporate
social responsibility (“CSR“) activities, which
have to be executed in a manner that is
environmentally responsible, socially equitable
and economically viable.
Regular and timely maintenance prolongs the condition of

Kedah State‘s roads and promotes user safety.

ACHIEVING GROWTH REVENUE (RM‘000)
After two years of pandemic restrictions, the construction, 2022 231,370

property development and related industries were among 2021 207,729
those that rebounded in earnest, while our other core business
2020 219,585
of tourism-related leisure activities began making headway
by Q4 2022. Sources: The New Straits Times, The Malaysian 2019 248,220
Reserve, Tradingeconomics.com 2018 203,390
Against this positive backdrop, the Group saw a notable

0 50 100 150 200 250 300
improvement in its financial performance for the year in
review, achieving better results in revenue and profits. Total
Revenue in FY2022 increased by RM23.6 million or 11.4% to
PROFIT/(LOSS) BEFORE TAX (RM’000)
RM231.4 million from the RM207.7 million recorded in FY2021,
registering a 15.4% increase in Profit before Tax (“PBT“) of 2022 9,044
RM9.0 million (FY2021: RM7.8 million). The commendable
2021 7,770
results were primarily attributed to an uptick in the maintenance
2020 8,534
of State roads and a surge in demand for construction
materials, including aggregates and premix from the ECQ 2019 6,799
Division. While the ECQ Division accounted for more than half 2018 (39,334)
of Group Revenue, the Division posted a Loss Before Tax due
to higher material costs and spillover effects from the
pandemic-related lockdowns, including labour shortages -40 -30 -20 -10 10 20 30 40
and project delays. However, the Property Development

Division fared better in FY2022, growing 89.6% in PBT despite
NET PROFIT/(LOSS) ATTRIBUTABLE TO
incremental gains in Revenue and posting a lower segmental OWNER OF THE COMPANY (RM’000)
contribution to Group Revenue compared to FY2021.
2022 5,597
2021 5,387
2020 5,292
2019 4,707
2018 (42,204)
-50 -40 -30 -20 -10 10 20 30 40 50

Simfoni West@Taman Tunku Intan Safinaz BDB Jitra, Jitra in Kedah is among BDB’s affordable housing collection.
SOUND GOVERNANCE AT OUR CORE In FY2022, we balanced our plans to reduce discretionary spending,
adopted tactical pricing in the supply chain and sales, and stimulated
In the post COVID-19 era, a radical shift demand in property ownership throughout FY2022 with a more
in corporate governance emerged with structured approach to communication and engagement with
increased pressure and demands from stakeholders. This approach ensured that we addressed the concerns
of all stakeholders, including the inequality of income and wealth,
various stakeholder groups, heightened
environmental degradation, climate change, declining public health
expectations for societal engagement and
and education, rising corruption, and increased risk of pandemics.
corporate citizenship, and uncertainty about
the future. To tackle these concerns, we have
To improve board effectiveness and unleash the Group’s value-creation
strengthened our accountability and oversight potential, two new committees were formed at the Board level on
throughout our operations while setting 1 February 2023, namely, the Investment Committee and the
out on a phased recovery with the gradual Sustainability Committee. By reassuring our shareholders and multi-
resumption of business activities. stakeholders of our operational reliability, we reinforce our commitment
to support the State Government’s agenda to transform its economic
development and achieve high-income status by 2035.
Further details are presented in the Corporate Governance Overview

Statement on pages 120 to 135 in this Annual Report 2022 and the Corporate
Governance Report 2022, which is available on the Company’s website at
https://www.bdb.com.my/investor-centre/.

ENHANCING STAKEHOLDER VALUE UNLOCKING POTENTIAL

THROUGH SUSTAINABLE PRACTICES
While we remain cautiously optimistic about our future prospects,
The Group is committed to prioritising we recognise that economic uncertainties and potential disruptions
sustainability in all aspects of our operations pose significant challenges to our growth trajectory. As of
and activities. We understand that this 31 December 2022, the ECQ Division’s order book has decreased
approach, which incorporates ESG to RM421.4 million from RM523.3 million in 2021. Meanwhile, the
considerations, will improve our corporate Property Development Division’s gross development value (“GDV”)
practices and processes to better understand, has increased to RM21.1 million from RM16.9 million in 2021,
evaluate and meet the diverse needs of our reflecting notable growth. This achievement is attributed to the
various stakeholder groups. Group‘s focus on strengthening its core businesses, improving revenue
resilience and stability, optimising operational efficiencies, managing
As we continue on our sustainability journey, manpower utilisation, and implementing financial restructuring. The
we have come to appreciate the value of this Group‘s revenue and profitability significantly improved in FY2022,
approach in optimising resources, upholding and we expect to increase this momentum in 2023, primarily due
ethics, empowering our people, creating to the successful resumption of road construction activities and the
opportunities, and contributing to the wider completion of various initiatives by the Property Development and
community. We recognise that sustainability is Leisure Divisions.
an ongoing and ever-evolving challenge and
that comprehensive integration is a continuous
endeavour. Therefore, we are actively working
to maximise the benefits of our business
activities while minimising any adverse effects.
BDB’s focus on developing quality affordable housing supports the

State Government’s desire to enable home ownership among the
lower and middle-income groups in the community.

ACKNOWLEDGEMENTS
The dedication, tenacity, and unwavering

commitment of our hardworking employees,
visionary management team, and astute
Board Members enabled us to achieve a
year of positive returns for the Group during
FY2022.
Despite the numerous challenges we faced,

including the uphill climb to recovery in the
aftermath of the pandemic and its implications
for the national and global economies, we
remained resilient and worked tirelessly
to deliver credible results. I am incredibly
proud of how our team came together
Excavation works at Darulaman Lagenda Township. and navigated the uncertain and ever-
changing business landscape, always with
In line with our commitment to expanding our ECQ portfolio and our stakeholders‘ best interests in mind.
generating robust returns for our stakeholders, the Group was
awarded the RM34.08 million project to develop a tertiary irrigation I want to welcome on board YM Raja
system in Kedah and Perlis on 9 February 2023. This project is Shahreen Bin Raja Othman, appointed
poised to enhance water and cropping productivity in the specified Executive Director on 1 November 2022,
areas to strengthen and improve rice cultivation in both states. Our and Independent Non-Executive Directors,
ECQ teams are working diligently to complete projects on time and Professor Dr. Mohd Suffian Bin Yusoff and
within budget while adhering to strict safety protocols. We have Puan Nawal Binti Hanafiah who were
also invested in upgrading machinery, equipment and technology to appointed on 16 June 2022 and 26
increase efficiency and reduce costs, ensuring we remain competitive September 2022, respectively. On behalf of
in the market. the Board, I wish to record my most profound
appreciation to Dato’ Haji Abdul Rahman
Our Property Development Division has also made impressive Bin Abdullah, who resigned on 26 May 2022,
strides, with several successful projects completed and more in the for his valuable contribution during his
pipeline. We are focused on delivering high-quality, sustainable tenure as a Non-Independent Non-Executive
developments that meet the needs for affordable housing in the State. Director.
Meanwhile, our Leisure Division will focus on tapping domestic My sincere gratitude goes out to the
tourism and collaborating with the State’s Ministry of Tourism, Arts Menteri Besar of Kedah, YAB Dato’ Seri
and Culture, leveraging on perks and incentives offered by the Haji Muhammad Sanusi Md Nor, the Kedah
Government to rejuvenate and strengthen Kedah’s tourism sector. State Government and government agencies
for their support of and confidence in BDB.

Bukit Perak Quarry, Pendang, Kedah.
I would also like to pay tribute and express my appreciation to

my fellow Board members and the Management Team for their
invaluable contribution to Kedah and its people. Your efforts in this
regard are critical towards driving progress and inclusiveness for
the state.
To our valued shareholders, esteemed customers, trusted

partners, bankers and vendors, we are immensely grateful for your
unwavering loyalty and steadfast support. Your continued belief in
our vision, resolute trust in our capabilities, and encouragement to
pursue our goals inspire us to push forward with confidence and
determination.
Our continued success is a testament to our collective efforts and

reinforces our belief that together, we can overcome any obstacle
to meet and even surpass our targets. As we move forward, we
remain steadfast in our commitment to upholding our values and
maintaining the high standards that have been the foundation of
our success and values that underpin our efforts and achievements.
Thank you.
Tuan Sr. Haji Che Had Bin Dhali S.D.K., B.K.M. Artist‘s impression of Urban Garden
in Darulaman Saujana.
Chairman

Management
Discussion & Analysis
SUSTAINING GROWTH, CREATING FUTURE
Emerging from the unprecedented challenges brought about by the

global spread of COVID-19 since 2020, the pandemic‘s aftermath
has caused deep recessions that have eroded financial positions,
public health and safety, economies, and human capital through
countless job losses. While the shift to the endemic phase has
increased domestic economic activities, the Malaysian economy is
still tethering on the path of recovery with numerous challenges
still plaguing the stabilisation of our economy.
Notwithstanding the positive developments

in the sector, the property industry faced
several challenges, including rising interest
rates, escalating material costs, and labour
Overall, the Malaysian economy showed shortage. These factors weighed down
a remarkable boost in 2022 with 8.7% on the sector‘s performance, significantly
growth, the highest annual growth in affecting productivity in both the property
22 years (2000: 8.9%), compared with and construction sectors.
the previous year‘s 3.1%.
Through it all, we were pressure-tested on
(Source: Department of Statistics Malaysia - DOSM). our business continuity and value creation
plans, as were our people‘s spirit, fortitude,
and tenacity in navigating the uncertainties of
the operating environment that encompassed
BDB‘s Engineering, Construction and Quarry
(“ECQ“), Property Development and Leisure
In the property sector, positive improvements were observed in terms Divisions. Through it all, we have emerged
of transactions and value in 2022 compared with the previous year, stronger and more resolute, holding true to
driven mainly by the resumption of economic activities across the our core values as we pursue financial and
board and the reopening of the country‘s international borders. After operational excellence. Our unwavering
the pandemic-induced slowdown in 2020, statistics compiled by the dedication to the Group‘s Strategic Business
Valuation & Property Services Department of the Ministry of Finance Plan 2022-2024 and long-term growth
(“JPPH“) showed an improvement in the volume and value of property strategies have positioned us to meet our
quantitative and qualitative objectives,
transactions in 2021, a trend which continued into 2022.
capping four consecutive years of profits
while supporting the aspirations of the State
Government and people of Kedah.

Management Discussion & Analysis
BDB Infra has expanded its premix operations at the Kulim Kedah Premix Plant in Padang Meha in Kulim, Kedah.
During the year under review, BDB‘s Over the past five years, we have made significant contributions to
performance was anchored in its Pillars of the nation‘s progress. These include:
Success: People with a strong talent pipeline;
A cumulative tax payment of RM5.2 million (after a tax refund of
Products/Services developed and delivered
RM5.3 million in FY2019) at the Federal level.
through innovative technologies; and Profit,
which ensures healthy stakeholder returns. A dividend payout of RM4.6 million to our shareholders over
the past three financial years (dividends were not declared in
As a result of its improving financial position, FY2018 and FY2019). This includes the State Government as one
BDB is now strategically positioned to expand of our shareholders.
and strengthen its core businesses, paving RM1.1 million zakat contribution paid to Lembaga Zakat Negeri
the way towards achieving business and Kedah over five years.
corporate sustainability. The Company is
committed to maximising its potential and In addition, our focus has been on steadily building a strong and
expanding its reach beyond its current resilient supply chain, resulting in better collaboration; developing
boundaries. a more cohesive business ecosystem; and increasing value for all
stakeholders, from customers and business partners to vendors and
BUSINESS OBJECTIVES employees. These strategic initiatives have assisted in streamlining
processes and operations, offering differentiation in the marketplace,
As the investment subsidiary of PKNK, BDB responding effectively to changing market conditions and delivering
is entrusted with the crucial responsibility
superior products and services.
of driving economic growth, creating job
and business opportunities, and generating
income for both the Federal and State
Governments.

Furthermore, as a Group, we are committed to driving Bumiputera We take pride in our efforts to make
participation in our core business sectors. Our goal is to promote homeownership more accessible and
socioeconomic inclusiveness and create a more equitable society. In attainable for a broader segment of the
this regard, we have gained considerable ground in supporting and population, and we will continue to work
boosting the capabilities of 77 vendors and service providers over the towards providing affordable and quality
years. housing for all.
As a property developer, we are committed to providing affordable At the close of FY2022, we have completed
housing solutions to the community, especially for those in the 9,825 residential units comprising close to
B40 (bottom 40% of income earners) and lower M40 (middle 40% 2,000 low-cost houses (below RM50,000.00),
of income earners) income groups in Kedah. We aspire to be a 5,400 ‘rumah mampu milik’ (affordable
Champion of Affordable Townships in the State, offering the homes in the RM50,000.00 to RM300,000.00
community access to decent, comfortable living spaces. range), another 2,100 medium-cost units
(RM200,000.00 to RM500,000.00) and 300
houses in the higher-end spectrum.

BUSINESS STRATEGIES Value Creation, a Continuous Journey
As a key driver of Kedah‘s economy, BDB is committed to ensuring At BDB, we firmly uphold the core principles
the sustainability of our business operations to safeguard the interests that define our business operations. Our
of our stakeholders, including shareholders, customers, employees, primary focus is on delivering products
business associates, vendors, the community, and government entities. and services that are reliable, safe,
environmentally-friendly and affordable to
We regularly evaluate our plans and processes to address current our customers and the community we serve.
challenges and align our strategies with a three-year rolling Business
Plan endorsed by the Board. To achieve this, we leverage various input
capitals and apply the best industry practices
During the year in review, our Business Plan 2022-2024 outlined and governance standards to safeguard
three main challenges at the Group level: low margins from our the interests of our stakeholders. We
business activities, delivery of awarded projects, and unproductive recognise the importance of understanding
assets and financing. In response, we took swift and affirmative action our stakeholders‘ evolving needs and
to address and mitigate these issues. We managed to save costs expectations, and we are dedicated to
and reduced potential business losses through the streamlining of achieving our highest value creation potential
expenses. We also strengthened business sustainability with the by aligning our corporate objectives, vision,
acquisition of new ECQ contracts and development projects and and mission with their demands.
restructured compensation and benefits for our employees.
BDB’s strategic partnership with Delegasi GSD Land Sdn. Bhd. is expected to create favourable opportunities for future
project collaborations.

To illustrate our value creation journey, please refer to the accompanying diagramme.
INPUT CAPITALS VALUE CREATION PROCESS
INTELLECTUAL CAPITAL Engineering, Construction

Our established and systematic procedures and & Quarry (”ECQ”)
processes, expertise and skills, brand value and
reputation in our markets and industries.
100% BDB INFRA SDN. BHD.

197301002843 (16289-A)
INDUSTRIAL CAPITAL 100% BDB SYNERGY SDN. BHD.
Our land banks, leased land or concession areas, 198201002994 (82740-W
physical assets including machinery and technologies. 100% BDB ROCK MINERAL SDN. BHD.
(Formerly known as BDB Construction Sdn. Bhd.)
199601001370 (373716-P)
HUMAN CAPITAL Property

Our visionary leadership, knowledgeable and Development
skilled workforce, competencies, experience and
contributions to growth and innovation.
100% BDB LAND SDN. BHD.

198101003170 (69284-P)
FINANCIAL CAPITAL 100% KEDAH HOLDINGS SDN. BHD.

198201000874 (80618-U)
Our financial assets including cash generated from
our operations and investments, and other sources 100% AMAN LAGENDA SDN. BHD.
of funding. 201401040611 (1116761-P)
50% BDB LAGENDA SDN. BHD.
202101012211 (1142510-A)
SOCIAL AND RELATIONSHIP CAPITAL

Our long-established, carefully nurtured, trust-filled Leisure
and respect-based ties with stakeholders including
shareholders, customers, associates, authorities and
communities. 98.7% BDB DARULAMAN GOLF RESORT BERHAD
199201022806 (254310-M)
100% BDB LEISURE SDN. BHD.
201601029874 (1200815-K)
NATURAL CAPITAL
80% BDBMBI LANGKAWI VENTURES SDN. BHD.
The natural resources we consume and utilise in our 199601014681 (387031-V)
products, services and solutions.
CORPORATE STRATEGY
REBOOTING RECALIBRATING
Our existing goals, costs and structure to optimise performance. Our products and markets to ensure relevance.

Certification Government Local Vendors and

Employees Agencies/Regulators Communities Suppliers
Bodies
STAKEHOLDERS ALIGNMENT TO
VALUE CREATED IMPACTED THE *UNSDGS
FINANCIALS
Revenue Tax Paid

RM231.4 million RM3.3 million
(FY2021: RM207.7 million) (FY2021: RM2.7 million)
Total Assets Zakat Contribution

RM717.0 million RM0.5 million
(FY2021: RM716.0 million) (FY2021: RM0.1 million)
TALENT
No. of Employees
78% 22%
602
Male Female
(FY2021: 623)
New Hires
82% 18% Please refer to the Sustainability
73 Male Female
Statement on page 100 to 103 of
this Annual Report 2022.
(FY2021: 15)
SOCIAL
Education Religious Programmes

RM83,687 RM197,210
(FY2021:RM70,000) (FY2021:RM58,950)
Sports and Stakeholder and

Recreation community relations
RM248,675 RM196,300
(FY2021:RM7,400) (FY2021:RM171,140)
Total : RM725,872
(FY2021:RM307,490)
Please refer to the Sustainability Statement on pages 104 to 118 of this Annual Report 2022.
ENVIRONMENT
BDB stringently adheres to environmental laws and policy practices in Malaysia

according to the Environmental Quality Act 1974. BDB is also ISO 45001:2018
Occupational Health & Safety Management System and ISO 14001:2015
Environmental Management Systems certified.
Please refer to the Sustainability Statement on pages 93 to 99 of this Annual Report 2022.
REFRESHING
* United Nations Sustainable
Our outlook by exploring new areas of growth. Development Goals.

REVENUE (RM‘000) FINANCIAL PERFORMANCE
Revenue
2022 231,370
2021 207,729 Revenue for FY2022 increased by 11.4% to RM231.4 million from
RM207.7 million recorded in FY2021, with higher contributions from
2020 219,585 our ECQ and Property Development business segments. ECQ
contributed 55% to Group Revenue while Property Development
2019 248,220
accounted for 39%, with Leisure and other sources the remaining 6%
2018 203,390 each.
Although Revenue for FY2022 remained below the pre-pandemic

level of RM248.2 million in FY2019, it has been on the upswing since
0 50 100 150 200 250 300
the start of COVID-19 in 2020 when the series of shutdowns and
lockdowns severely impacted operations. Our subsequent
improvement in financial performance, particularly in the reporting
PROFIT/(LOSS) BEFORE TAX (RM’000) period, coincided with the reopening of the national economy. This
resumption of economic activities led to heightened demand for
2022 9,044 aggregates and premix not only for our construction projects but also
for external parties in related sectors. Internally, we also ramped up
2021 7,770 the maintenance of State roads under a three-year contract with the
Kedah Government.
2020 8,534
2019 6,799 Meanwhile, revenue contribution increased moderately for our

Property Development Division with the completion of Joint Venture
2018 (39,334) (“JV“) development initiatives, including Darulaman Lagenda in
Sungai Petani and other projects.
-40 -30 -20 -10 10 20 30 40 Profits
Profit Before Tax (“PBT“) grew by 15.4% to RM9.0 million compared

NET PROFIT/(LOSS) ATTRIBUTABLE TO to RM7.8 million in FY2021 due to higher Revenue and an improved
Gross Profit (“GP“) margin of 20.8% from 16.7% previously. The
OWNER OF THE COMPANY (RM’000)
better GP margin, mainly from the Property Development Division,
can be attributed to our measures in optimising resources and cost
2022 5,597 efficiencies implemented since the previous reporting period. Notably,
PBT for FY2022 surpassed the corresponding amount recorded
2021 5,387
for pre-pandemic FY2019 of RM6.8 million.
2020 5,292
In contrast to Property Development, the margin from our ECQ
2019 4,707 activities was affected by labour shortage and the rising cost of
materials due to the persistent supply crunch over the past few years.
2018 (42,204)
To illustrate, the price of bitumen jumped to as high as RM2,800
per tonne in 2022 against RM2,300 per tonne in the previous year,
following the rise in crude oil prices. Despite the double-digit
-50 -40 -30 -20 -10 10 20 30 40 50 growth in PBT, Profit After Tax (“PAT“) only increased marginally to
RM5.6 million as compared with RM5.4 million previously on account
of higher taxes amounting to RM3.5 million in FY2022 against
RM2.4 million the year before. Nevertheless, we have successfully
maintained asset value for our shareholders while sustaining income
for employees, business associates and vendors.

Earnings Per Share (“EPS“) was 1.84 sen, an Other Financial Indicators
increase of 4% over 1.77 sen in the previous
reporting period. Malaysian Rating Corp Bhd (“MARC“) has affirmed its short-term
rating of MARC-2IS on BDB’s RM100.0 million Islamic Commercial
Dividend Papers (“ICP“) programme in 2022.
BDB has issued consistent dividends The rating was based on several factors, including BDB’s improving
commensurate with our financial performance business profile in ECQ and Property Development, low-to-moderate
to reward shareholders for their support and leverage position, and adequate liquidity to meet short-term
loyalty. As highlighted earlier, the Group operational and financial commitments. Correspondingly, BDB’s status
previously paid out a cumulative total of as a Kedah state-owned entity increases its accessibility to secure state
RM4.5 million over the last three years since construction contracts.
2020.
For the year in review, the Board has Gearing Finance Costs
declared a dividend of 0.46 sen per share.
This amounts to a total dividend payout of 0.19x RM6.8 million
RM1.4 million, which will be paid out within FY2021: (0.22x) FY2021: RM5.3 million
60 days after the Annual General Meeting.
Despite this, the dividend payout for FY2022
is significant as it represents 25% of PAT, Cash & Cash
demonstrating our unwavering commitment Taxation Equivalents
to distributing profits to shareholders and
other stakeholders. Going forward, we RM3.5 million RM80.0 million
intend to maintain this practice of allocating FY2021: RM2.4 million FY2021: RM66.3 million
a substantial portion of our net profits as
dividends in the future.
The Group’s sizeable landbank of 822.8 acres as of 31 December
Provision made for the dividend declared 2022, the increase in the construction order book, the stable
was attributable to the company’s tactical revenue stream from road maintenance contracts, and the recurrent
approach to mitigate the risk of financial rental stream from the Langkawi project upon completion were also
decline. Appropriate responses in mapping considered.
out the restructuring phases led to the
successful turnaround and financial recovery The Group maintained a relatively low gearing of 0.19x, which was
of the Group. lower than the previous year (0.22x) following the repayment of loans
for the development of Aman Lagenda and settlement for a revolving
Shareholdings and Assets credit line. At the close of the financial year, our total borrowings were
RM91.5 million against RM105.0 million the previous year.
As of 31 December 2022, Shareholders’ Funds
stood at a marginally higher RM475.0 million We will keep adjusting our borrowing levels according to our risk
(FY2021: RM471.8 million), while Total Assets appetite, particularly for the Property Development Division. The
of the Group amounted to RM717.1 million Group‘s primary focus will be on maximising cost efficiency through
higher from RM716.3 million the year before implementing hedging measures, pre-ordering goods to avoid price
and net tangible assets per share edged up to inflation, and enhancing cash preservation. In addition, we intend
1.56 sen from 1.55 sen in FY2021. to explore new business prospects to sustain the Group’s long-term
success.
Meanwhile, Return on Equity (“ROE“) was
1.17% compared to 1.14% previously, while As of the end of FY2022, we have more than sufficient cash and
Return on Total Assets was slightly higher, cash equivalents for capital expenditure (“CapEx“) and operational
0.78% compared to 0.75% in FY2021. expenditure (“OpEx“) earmarked for the new financial year of FY2023.

REVIEW OF OPERATIONS
In FY2022, the Group reverted to our pre-pandemic corporate

structure comprising three core Divisions: ECQ, Property
Development and Leisure.
Operating Environment The property sector, particularly residential

units, improved dramatically with a rise of
The Malaysian economy rebounded impressively in 2022, achieving almost 35% in the volume of transactions
growth of 8.7% on the back of soaring exports and surging domestic during the first nine months of 2022,
consumption after two previous years when the pandemic severely according to the Valuation & Property
curtailed business and social activities. Services Department of the Ministry of
Finance. Demand from prospective house
buyers shot up in tandem with the rise in
the value of loans approved by financial
institutions.
Every economic sector resumed operating Similarly, the construction sector also staged
following the implementation of the a revival and is estimated to have grown
endemic phase of COVID-19 on 1 April by 7.1% during the year, as stated in the
2022. While property development and Malaysia Construction Industry Databook
construction were among the industries that Report 2022. This growth was led by the
rapidly gained traction almost immediately, renewal of major infrastructure projects and
tourism recovered gradually before supported by an uptick in the approval of
improving in Q4 2022. residential projects across the country.
(Sources: The New Straits Times, The Malaysian Reserve,

Tradingeconomics.com) Meanwhile, inbound tourists to Malaysia
amounted to only three million or 12% of
the total for pre-pandemic 2019, according
to Tourism Malaysia. Domestic tourism was
unable to compensate for this downtrend.

Engineering,
Construction
and Quarry
(”ECQ”) Division
BDB Infra is the pioneer of the quarry industry in the north of Kedah and
operates the largest granite quarry in Bukit Perak, Pendang.
Revenue for the Division rose by 18.9% to RM126.7 million during the
reporting period (FY2021: RM106.6 million), expanding ECQ’s share
of Group Revenue to 55% from 51.0% the previous year. On the other
hand, the Division incurred a Loss Before Tax (“LBT“) of RM1.5 million
from a PBT of RM3.4 million previously. More importantly, this RM431 million project
is expected to play a major role in resolving
Our ECQ Division ensures the Group has full-fledged capabilities long-standing issues such as low water
and a complete value chain for civil infrastructure and property pressure faced particularly by rural residents
construction. The Division generates sales via the supply of construction in Kedah. The upgrading works project was
materials and, at the same time, supports the projects of our Property awarded to BDB Synergy on 21 May 2021
Development Division. due to its impressive track record. The three-
year project is on track for completion in
It was a mixed performance by our ECQ business in FY2022, with the Q1 2025 and will help increase production
achievement of higher segmental revenue weighed down by lower capacity by over 50%, a jump from 227 million
margins caused by the rising cost of materials and labour shortage litres to 454 million litres daily. The works will
among our contractors. These issues were not confined to our primarily involve the replacement of existing
businesses but cut across almost all industries following the utility pipes with larger sizes, to cater to the
disruption to supply chains and the exodus of foreign workers during increasing demand of users in the affected
the pandemic. To date, supply issues continue to plague economic areas. The project is part of the RM931
activities in the wake of the ongoing Russia-Ukraine war in Eastern million allocated by the State Government via
Europe. Syarikat Air Darul Aman (“SADA“) to upgrade
another four water treatment plants, namely
The reduced margin had the most profound impact on upgrading Bukit Selambau, Sungai Limau, Jenun Baru
works at the WTP Pelubang in Kubang Pasu, which is marked for and Lubuk Buntar Lama, which are still under
completion by May 2025. In response to this situation, we have tender.
reviewed our management of contractors.

In addition, the project will also act as a The Division continues to manage the 240-acre Bukit Perak Quarry
catalyst for the development and expansion in Pendang, in the north of Kedah, operating two crusher plants with
of new growth areas in Northern Kedah, a combined monthly capacity of 70,000 metric tonnes to produce
including the Kedah Rubber City, and the various sizes of crushed aggregates and asphaltic bituminous mix
Delapan Special Border Economic Zone products for the construction of roads, highways, railway tracks,
(“Delapan SBEZ“) in Bukit Kayu Hitam. bridges, houses, land reclamation and other infrastructure. Operating
the largest granite quarry in Kedah, BDB Infra caters to builders and
contractors from central to southern Kedah, and from northern Perak
to Penang.
BDB Infra is a leading supplier of a diverse range of aggregates and premix products to builders and contractors in the central
and southern regions of Kedah, as well as in Perak and Penang.

Given its impressive performance history, BDB Infra was

awarded the state road maintenance contract on 23
March 2020 for a period of three years. This contract has
been crucial in maintaining road strength and quality,
and increasing the safety for users and citizens in the
area. Throughout the reporting period, we conducted
scheduled and unscheduled maintenance in the
following areas: Kota Setar, Padang Terap/Pokok Sena,
Kuala Muda, Sik, Kubang Pasu, Kulim Bandar Baharu,
Pendang, Yan, and Baling. BDB Is on track to complete
maintenance for 2,698 km of state roads totalling
a combined contract value of RM210.0 million with
completion expected in 2023.
In addition, BDB Infra also introduced bitumen emulsion In 2022, BDB secured the RM431 million contract to upgrade
the WTP Pelubang to address the water issues faced by the
to its existing product line, which is used extensively in
population in Kedah.
construction, repair and maintenance of roads.
The timely completion of these projects is a boon for

residents of and visitors to Kedah, benefitting road users
by reducing the potential for accidents, securing the supply
of clean water for the people and conserving valuable
water resources by improving the distribution network.
In December 2022, BDB Synergy completed the RM39.8

million contract from the Water, Land and Natural
Resources Ministry to undertake construction works under
the national non-revenue water (“NRW“) programme in
Perlis. The contract duration of 104 weeks, commenced on
20 February 2020.
BDB has bolstered its synergy with Kulim Technology

Park Corporation Sdn. Bhd. (“KTPC“) by supporting
public interest-related projects, including constructing
a new factory and ancillary facilities in Kulim Hi-Tech
Park (“KHTP“), which was completed in FY2022.
As Malaysia‘s first high-technology park development,
KHTP spans over 4,736 acres and is a national project
funded by the Government. Through its provision of The Premix Plant in Padang Meha, Kulim caters for our own
world-class infrastructure and amenities, KHTP is a hub projects and demand from our customers from central and
southern Kedah.
for global tech players and other manufacturing concerns.

Property
Development
Division
Bandar Sejahtera, a mixed housing project has developed into a
matured neighbourhood in Pokok Sena, Kedah.
As 2022 drew to a close, the Group stood on the brink of reaching

the milestone of delivering 10,000 affordable homes to prospective
homeowners. This accomplishment is aligned with the State
Government‘s intention of facilitating homeownership for every family
in Kedah.
During the year in review, the Property Development Division JV developments led the way in FY2022, with
recorded a lower revenue contribution of RM90.1 million (FY2021: completed projects contributing RM40.3
RM96.0 million), representing 39% of the Group’s Revenue. million and accounting for considerable
Nevertheless, the Property Development Division achieved a higher revenue and profits for the Division. The
PBT of RM9.3 million (FY2021: RM4.9 million) for an 89% share of profitability of such tie-ups with other property
Group PBT despite facing challenges of higher materials costs, developers in Kedah has proven to be a sound
Overnight Policy Rate (“OPR“) changes, and labour shortage. approach that complements our existing
projects to complete and provide affordable
BDB is confident that the surge in raw material prices and the increase homes to house buyers at an efficient rate.
in the OPR will not have any impact on the Property Development
Division‘s financial performance. The Division plans to maintain The ongoing Darulaman Lagenda township
the price points of its properties and absorb any increase in costs. development, with a total gross development
Furthermore, the Company is making concerted efforts to cushion value of RM592.0 million, involves the
the escalating costs and maintain the selling price of affordable construction of 2,500 affordable homes over
homes within the RM50,000.00 to RM300,000.00 price range. The 93 hectares in Sungai Petani under Phase 1.
objective is to provide the public with an opportunity to own a home The township is being developed by BDB
regardless of prevailing market conditions. Lagenda Sdn. Bhd., a JV of BDB Land Sdn.
Bhd. and Lagenda Properties Sdn. Bhd.

Other completed JV projects were Panorama

Darulaman in Bandar Darulaman, Jitra worth RM24.1
million, the RM9.3 million Darulaman Perdana in Sungai
Petani and Oasis residential units worth RM4.0 million
in Darulaman Utama, Kuala Ketil.
PROPERTY DEVELOPMENTS AND JVS
PROPERTY DEVELOPMENT DIVISION
Projects
Darulaman Perdana is set to become one of the most
prestigious mixed housing developments in Sungai Petani,
Kedah Darul Aman.
Darulaman Saujana
Darulaman 3.0
Aman Perdana (Revenue)
Aman Nusa Kedah Marble
Aman Resident Temoyong
Darulaman Lagenda
Darulaman 2.0:
- Indera apartments
- Lakehomes
- Phase 5C
- Phase 4 (Simfoni East)
Simfoni West@Taman Tunku Intan Safinaz BDB Jitra is

strategically located within a sustainable community township
to promote a well-planned modern, cultural and healthy
lifestyle.

Leisure
Division
The 18-hole championship golf course at the Darulaman Golf and Country
Club is ideally situated in Jitra, Kedah.
From merely operating tourism assets previously, we recently changed It is envisaged that with proper and stringent
our business model from being operator to owner-operator of the facilities management, we have the potential
Darulaman Golf & Country Club outside Alor Setar and Fantasia to enhance the tourism industry as well
Aquapark in Jitra. The changeover allows us to leverage these assets as end-user experience at our properties.
to develop the Leisure segment for the Group and the tourism This will enable us to extend our reach
industry in Kedah. locally and regionally to golfers, sports
enthusiasts, families and weekend holiday
The Darulaman Golf & Country Club features an 18-hole championship makers. Another target market is corporate
golf course set amidst 201 acres including a piece of wetlands, which companies and event organisers to offer
is strategically located just five minutes from the Bandar Darulaman them a refreshing venue to host business
interchange on the North-South highway, 10 minutes from the Alor meetings, conferences and team-building
Star airport, 15 minutes from Alor Star town and half an hour from activities.
the border town of Bukit Kayu Hitam. The club is well-equipped with
adult and children swimming pools, a fitness centre, 24-hour security
services, a Golf Pro shop and a playground.

Apart from sports, recreational facilities in Darulaman Golf & Country Club are popular amongst golf enthusiasts and members.
Located in the heart of Langkawi, the waterfall in Darulaman Sanctuary, Lubuk Semilang is a popular tourist destination.

MANAGING RISK
BDB remains vigilant against any operational and sustainability risks to safeguard shareholder investments and the interests
of all other stakeholders. Accordingly, we have in place a risk management and internal control system incorporating an
Enterprise Risk Management (“ERM“) Framework based on ISO 31000:2018 and a Risk Register to identify, evaluate and
manage significant risks at strategic, operational and project levels to ensure our strategies are implemented, and objectives
met according to our risk appetite.
Further details are presented in the Statement of Risk Management and Internal Control on pages 139 to 143 in this Annual Report 2022.
BUSINESS SUSTAINABILITY/RESILIENCE RISK: Despite the strong rebound of Malaysia‘s economy during the
transition to the COVID-19 endemic phase, market sentiment has remained cautious due to various global economic
uncertainties and supply chain disruptions. Moreover, escalating material costs, labour shortages, and rising interest
rates have presented significant challenges for our businesses, which could impact prospective homebuyers.
However, we have been prudent in managing our finances and have implemented cost reduction strategies while
securing advanced orders to improve pricing control and inventory management. We are also targeting to secure
new contracts for our ECQ and Property Development Divisions while expanding our operational boundaries.
Additionally, we have re-established the Leisure Division to tap into the developing tourism sector following the
reopening of all economic sectors.
FINANCIAL RISK: Our financial structure had to be stabilised to meet commitments and manage liquidity.
As such, we addressed the key prerequisites to centralise financing, restructured debt repayments, and increased
cost efficiency. The repayments were financed by higher operating income and land disposals.
CONCENTRATION RISK: As the majority of our business operations and secured projects are concentrated in
Kedah and Perlis, the top priority was completing projects on time. We also initiated steps to expedite Extension
Of Time (“EOT“) approvals to avoid any Liquidated Ascertained Damages (“LAD“) exposure that may affect our
reputation.
PRODUCTIVITY RISK: In addressing concerns over the underutilisation of assets and undeveloped landbank, we
sought potential partners to enter into JV arrangements and are also evaluating the potential for self-development.
We reviewed the management of contractors facing issues of increased material costs and shortage of workers to
overcome slow progress at project sites.
STAKEHOLDER RISK: The Group’s subsidiaries that rely heavily on Government contracts may face challenges
in generating revenue and profit due to potential policy changes or shifts in a strategic direction influenced by
shareholders. These challenges, combined with market uncertainties, could pose difficulties in paying dividends.
BDB can leverage its extensive track record, experience, and expertise to address these risks by intensifying
collaborations with subsidiaries of PKNK and/or other Kedah state companies. This approach will enable us to
explore business opportunities in various industries such as telecommunications, renewable energy, and mineral
mining.

Sustainability
at BDB
Artist‘s impression of Darulaman Saujana affordable housing development
in Jitra, Kedah.
Apart from our dedication to excel in our business performance, We are also managing risks better and are
supporting the development and well-being of our employees and introducing cost-saving measures towards
communities are equally important. As part of the Group’s Corporate improving margins and enhancing brand
Social Responsibility (“CSR“) initiatives, we have contributed a value. While we are taking the necessary
cumulative RM1.8 million over the past 5 years 2018-2022 to aid steps and doing the groundwork to establish
and support a range of educational, religious, sporting, and social an effective reporting regime, we need to
programmes aimed at empowering individuals, associations, non- outline realistic targets and measures to
governmental organisations and other relevant agencies in Kedah. attain the Group’s aspirations. We will focus
on how governance connects with risk and
Aside from building public trust in BDB, our CSR programmes and when strategic priorities align with key
activities promote social support and engagement that foster personal resources, stakeholder relationships and key
and professional growth for our beneficiaries and employees. These performance indicators.
programmes have been designed to reach a wide audience, providing
opportunities for development and encouraging a sense of community Please refer to the Sustainability Statement in this
Annual Report.
and inclusivity. Through these initiatives, we aim to positively impact
the lives of those we serve and create a more vibrant and connected
society, particularly for the underserved in our communities.
Paving the way to exert more effort in tackling material ESG issues,
it is essential that our corporate sustainability efforts must make a
difference for society and the environment where we operate. This
year, we shifted gears in our efforts by adopting best practices for
wider disclosure of our sustainability initiatives to deliver better social,
environmental and financial outcomes.

As construction activities gain momentum in the Norther Region of Peninsular Malaysia,

we anticipate increasing demands for our quarry products.
LOOKING AHEAD To control inflation, most analysts predict BNM will raise the OPR
further after increasing the rate four times in 2022. This would have
Outlook the knock-on effect of hiking interest rates to make borrowing more
costly, potentially dampening the residential property market in 2023.
Malaysia’s economic growth of 8.7% in (Source: Valuation & Property Services Department of the Ministry
2022, the highest in 22 years, is expected of Finance). On a brighter note, demographic changes leading to an
to moderate in 2023 amid the slowdown in increase in average monthly incomes would enhance consumer buying
a global economy buffeted by continuing power, which could effectively offset the challenges faced by the
disruptions to the global supply chain, rising property sector.
inflation and geopolitical conflicts. Despite
the expectations of a more robust economic Prospects
recovery in 2023, several uncertainties,
including global inflationary shocks and Several ongoing and potential developments in Kedah are expected
geopolitical tensions, have triggered the to positively impact the Group’s prospects in 2023 and beyond. They
weakening of the Ringgit, leading to higher include:
costs in raw material prices and compliance
The announcement by the Federal Government that it is currently
costs in the property and construction sectors.
examining the possibility of constructing an aggregate port in
The national economy is projected to ease
the Sanglang area of the Kubang Pasu district to handle petroleum
between 4.0% and 5.0% in 2023 (2021: 8.7%),
and bulk cargo, which will add value to Kedah’s economy.
according to Bank Negara Malaysia (“BNM“),
while the country’s headline inflation is The Integrated Gas Supply and Power Plant Development Project
expected to average within the range of 3.0% and the ship-to-ship transfer hub in Pulau Bunting, Yan, are set to
and 3.5%. commence, potentially offering construction opportunities for BDB.

BDB won a RM34.08 million tender for a tertiary irrigation system development project in Kedah and Perlis to boost rice
cultivation in these states.
ECQ DIVISION These countries are supported by significant

investments in commercial, industrial,
Subsidiary company BDB Infra was recently awarded the Irrigation infrastructure, energy and utilities, institutional
System Development Project under the Ministry of Agricultural and and residential projects. (Source: globaldata.
Food Security, a contract worth RM34 million that will positively impact com)
the Group’s earnings over the next two years. The project involves
developing a tertiary irrigation system in Kedah and Perlis aimed at Following the reopening
strengthening and improving rice cultivation in both states. of international borders,
LADA has set a target
Our plans to expand quarrying operations in Langkawi are based of attracting 2.5 million
on the resumption of construction activities on the resort island. visitors in 2023 and is
The Langkawi Development Authority (“LADA“) aims to enhance the organising the Langkawi International
island’s tourism competitiveness and is projecting to gain investments Maritime and Aerospace Exhibition 2023
worth RM1 billion to construct hotels, eco-tourism products and (“LIMA 2023“), which is geared towards
shopping malls in 2023. This announcement was made on 12 February hosting over 600 exhibitors from local
2023 during the Langkawi Invest Day 2023, themed “Unlocking and international companies from the
Investment Opportunities for Sustainable Tourism”. defence industry. The event is scheduled
to take place from 23 to 27 May
The quarrying activities in Langkawi are anticipated to catalyse our 2023. This internationally recognised event
expansion into export markets, particularly Thailand and India, by was last held in 2019 but was postponed due
providing us with a greater supply of quarry and premix products to the COVID-19 outbreak.
to meet the demand in those markets. Between 2023 and 2026,
Thailand‘s construction market is projected to grow by over 3% from
its current size of US$26.2 billion in 2021. Meanwhile, the Indian
construction market was valued at US$609.8 billion in 2021 and is
forecasted to achieve an annual average growth rate (“AAGR“) of
more than 6% between 2023 and 2026.

PROPERTY DEVELOPMENT DIVISION

DARULAMAN SAUJANA
BDB’s Property Development Division Self-Sustaining Low-Carbon Township
capitalises on its integrated structure to
synergise operations between its core
businesses of construction, property
development, quarrying and road
maintenance. With the development of
Darulaman Lagenda in Bandar Amanjaya,
Sungai Petani progressing as planned,
the Group sees promising prospects, and 206 acres GDV: Population Capacity:
the Division‘s performance is expected to RM667.5 million 14,000 people (by 2025)
continue improving. Moreover, construction

Ideally situated in Hosba:
at the existing township in Bandar Darulaman
30 km from Alor Setar.
is on track, which motivates us to concentrate
10 km from Jitra.
on enhancing our balance sheet and ensuring
good earnings visibility for the Group in the 19 km from Bukit Kayu Hitam.
upcoming years. Superb connectivity via the North-South Expressway.

Main trading corridor between Thailand and Malaysia.
As part of efforts to tackle climate change,
we have initiated a new project to develop In a nutshell, our approach going forward is to:
a low-carbon township. The Property
Development Division recently launched
another affordable township in Darulaman Explore new
Grow our Expand our
Saujana, Hosba, with construction expected businesses
core products and
to begin in the fourth quarter of 2023. and revenue
businesses. services.
streams.
Inspired by New York’s Central Park, the
206.32-acre township is planned to integrate
technology, connectivity and sustainable
living concepts in Kedah and the northern
corridor of Peninsular Malaysia. The RM667.5
million project features aspects including
minimising embodied and operational
carbon emissions, solar-powered houses
and buildings, a sprawling man-made
lake and green spaces. In promoting a
low-carbon lifestyle, emphasis will be on
reducing greenhouse gas emissions, energy
conservation, clean energy and incorporating
green technologies to contribute towards a Artist‘s impression of Waterfront Development
in Darulaman Saujana.
better climate and increase the quality of life.

LEISURE DIVISION Given these opportunities, the Group

is cautiously optimistic about improved
As aforementioned, we have decoupled the Leisure Division from revenue and earnings in the intermediate
the Property Development Division, as we anticipate domestic period. Additionally, we plan to extend the
travel to support the local tourism industry. As rising airfares and depth and breadth of our operations by
overseas travel expenses impede Malaysian travellers, BDB aims to exploring opportunities beyond our core
attract visitors by scaling up marketing and promotional activities and, businesses and into such areas as agriculture,
crucially, upgrading and maintaining its leisure facilities. telecommunications and renewable energy
while also expanding our catchment markets
We recognise the importance of staying ahead of future trends across national borders for ECQ products and
impacting real estate and facility management across both our state lines for Property Development.
Property Development and Leisure Divisions. No longer are
buildings simply static structures housing operations. Today, buildings We are also closely monitoring the
and infrastructure are increasingly automated and responsive, development of renewable energy in
adapting to user needs and the surrounding environment. The rise Malaysia and view this industry as an
of hybrid working has accelerated technological advancements and attractive venture given the shift towards
affected demographics and economies. As a result, the integration cleaner energy in response to climate change
of physical and digital workspaces is becoming the standard in and greater focus on ESG considerations.
architecture, design, and IT integration for both residential and office
buildings. Beyond financial targets, we intend to
diversify revenue streams to spread and
Staying up-to-date with the constantly evolving business landscape is minimise risks. Our plans involve branching
crucial for our Company‘s success. This reinforces our commitment to into new areas such as telecommunications,
making incremental changes to ensure our operations run smoothly. renewable energy and minerals while
Our recent focus on GBI and building management systems (“BMS“) embracing greater levers of cost
is a timely move that will help us maintain a competitive edge in the optimisation, talent development, and
market. digital transformation. Our ultimate goal
is to foster a performance-driven culture
underpinning the Group’s resolute aim of
Sustaining Growth,
Creating Future.
Nestled amidst the picturesque northern countryside of Peninsular Malaysia, the Darulaman Golf and Country Club offers a
breathtakingly panoramic view of the surrounding natural environment.

BDB’s landbank at Temoyong in Langkawi is a potentially

identified location for investment in tourism.

EXCELLING
Environmental stewardship is an
essential value that we prioritise.
We strive to be responsible
caretakers of the areas in which we
operate by preserving ecological
biodiversity, protecting water
quality and maintaining a healthy
environment.

Corporate Highlights
27 MARCH 2022
Deputy Minister of Human Resources
YB Datuk Haji Awang Bin Hashim visited
BDB‘s officers at Menara BDB, Alor Setar,
Kedah Darul Aman.
14 APRIL 2022
BDB Chairman Tuan Sr. Haji Che Had Bin Dhali and
senior executives, paid a courtesy call to Kedah State
Secretary Dato’ Paduka Ammar Bin Dato’ Shaikh
Mahmood Naim.
17 APRIL 2022
BDB senior executives hosted an Iftar (breaking of fast
programme) at Kelab Media Elit Kedah (“KMEK“) at
Raia Hotel, Alor Setar, Kedah Darul Aman.

18 APRIL 2022
Iftar meals were distributed to staff at Media Prima in
Alor Setar, Kedah Darul Aman.
19 APRIL 2022
BDB Senior Executives, led by Chairman
Tuan Sr. Haji Che Had Bin Dhali paid a visit
to Kedah Chief Minister YAB Dato‘ Seri Haji
Muhammad Sanusi Bin Md Nor.
20 APRIL 2022
Iftar meals were distributed to Astro
Awani‘s media office in Kuala Lumpur.

27 APRIL 2022
Specially packed Iftar meals were
handed out to members of the media
at BERNAMA‘s Headquarters in
Kuala Lumpur.
28 APRIL 2022
Staff on duty at TV3 Headquarters
in Bandar Utama, Petaling Jaya,
Selangor Darul Ehsan received packed
Iftar meals for the breaking of fast.
11 MAY 2022
BDB senior executives visited the campus of Universiti
Utara Malaysia (“UUM“).

17 MAY 2022
BDBMBI Langkawi Ventures organised a Hari Raya
Aidilfitri Open House at the Darulaman Sanctuary in
Langkawi, Kedah Darul Aman that was attended by
employees from other subsidiaries and invited guests.
20 MAY 2022
BDB Infra hosted an Open House to celebrate Hari Raya Aidilfitri
at the Pendang Lake Resort in Kedah Darul Aman.
22 MAY 2022
Kedah Chief Minister YAB Dato‘ Seri Haji Muhammad
Sanusi Bin Md Nor graced BDB Group’s Hari Raya
Aidilfitri festivities for 2022/1443H that was held at
Menara BDB, Alor Setar, Kedah Darul Aman.

23 MAY 2022
BDGRB held its 28th Annual General Meeting at
the Centre of Learning, Menara BDB, Alor Setar,
Kedah Darul Aman.
26 MAY 2022
BDB‘s 27th Annual General Meeting was conducted at
Zenith Hall, Connexion Conference & Event Centre,
Kuala Lumpur
31 MAY 2022
BDB Chairman Tuan Sr. Haji Che Had Bin Dhali met with Kedah Police
Chief YDH CP Wan Hassan Bin Wan Ahmad to foster closer ties at the
Kedah Contingent Police Headquarters in Alor Setar, Kedah Darul Aman.

15 JUNE 2022
WTP Pelubang upgrading project groundbreaking ceremony
at Kubang Pasu, Kedah Darul Aman.
20 JULY 2022
BDB Chairman Tuan Sr. Haji Che Had Bin Dhali called
on Langkawi Development Authority (“LADA“)
CEO En Nasaruddin Bin Abdul Muttalib.
21 AUGUST 2022
Kedah Chief Minister YAB Dato‘ Seri Haji Muhammad
Sanusi Bin Md Nor officiated the Darulaman Lagenda
Affordable Township Project groundbreaking ceremony
in Sungai Petani, Kedah Darul Aman.

29 AUGUST 2022
BDB Chairman Tuan Sr. Haji Che Had Bin
Dhali paid a visit to the Minister of Housing
and Local Government (“KPKT“), YB Dato‘ Sri
Reezal Merican Bin Naina Merican to discuss
developments in the state.
1 - 4 SEPTEMBER 2022
BDB’s Property Development and Leisure Divisions
participated in the “Kerajaan Prihatin Rakyat
Sejahtera” Exhibition.
22 SEPTEMBER 2022
BDB EVP I & Chief Corporate Officer (formerly
Acting President & Chief Executive Officer)
En Mohd Iskandar Dzulkarnain Bin Ramli held a
Press Conference on BDB’s Q2 2022 Financial
Performance & Business Overview.

27 SEPTEMBER 2022
Former Finance Minister Tun Dr. Daim Bin Zainuddin
visited BDB officers at Menara BDB in Alor Setar,
Kedah Darul Aman.
28 SEPTEMBER 2022
BDB Chairman Tuan Sr. Haji Che Had Bin Dhali and
Universiti Utara Malaysia Vice-Chancellor Prof. Dr.
Haim Hilman Bin Abdullah signed a Memorandum of
Understanding (“MoU“).
21 NOVEMBER 2022
BDB Executive Director YM Raja Shahreen Bin
Raja Othman called on Kedah State Secretary
YB Dato’ Haji Norizan Bin Khazali.

30 NOVEMBER 2022
In building international relations, BDB received
a courtesy visit from representatives of the House
of Zakat & Waqf of Uganda.
4 DECEMBER 2022
Faculty members from Politeknik Sultan Abdul
Halim Mu‘adzam Shah in Jitra, Kedah Darul
Aman were briefed on BDB‘s businesses and
activities to gain insights into the Group‘s
operations.

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Bina Darulaman Berhad

Our investments in township development, construction, infrastructure

Thursday, 8 June 2023 at 10.00 a.m.

To create diversified income and revenue 33 Financial Calendar

Go Green, 120 Corporate Governance Overview Statement

139 Statement on Risk Management and Internal Control

Scan this QR Code for the online 144 Financial Statements

BINA DARULAMAN BERHAD Annual Report 2022 | 1

BINA DARULAMAN BERHAD (”BDB”) is the Kedah State Government’s

2 | BINA DARULAMAN BERHAD Annual Report 2022

BDB INFRA SDN. BHD.

quarrying and road construction. BDB

In early 2017, BDB Infra successfully managed a new asphalt premix

BDB Infra has vast experience in road maintenance works.

BINA DARULAMAN BERHAD Annual Report 2022 | 3

Bukit Perak Quarry

Bukit Perak Quarry. Padang Meha.

4 | BINA DARULAMAN BERHAD Annual Report 2022

Additional Product Line in Quarry: Bitumen Emulsion

New Face Development: Armor Rock

BINA DARULAMAN BERHAD Annual Report 2022 | 5

BDB SYNERGY SDN. BHD.

BDB Synergy Sdn. Bhd. (“BDB

BDB Synergy offers a comprehensive range of engineering and

Since its inception, BDB Synergy has forged an impressive

Commercial, leisure and residential developments;

Embracing a culture of quality, safety and integrity. ISO 14001:2015

6 | BINA DARULAMAN BERHAD Annual Report 2022

WATER TREATMENT PLANT, PELUBANG

BINA DARULAMAN BERHAD Annual Report 2022 | 7

BDB ROCK MINERAL SDN. BHD.

Despite being a relative newcomer

As a one-stop construction materials

BDB Rock Mineral has established

8 | BINA DARULAMAN BERHAD Annual Report 2022

Our material monitoring system is state-of-the-art, ensuring check and balance

BDB Rock Mineral is committed to sustainable mining

BINA DARULAMAN BERHAD Annual Report 2022 | 9

in township development in Malaysia’s for delivering high-quality, sustainable

The newly developed townships of Darulaman Saujana, Jitra, and

In 2022, BDB Land launched 7 units of one-storey bungalows under

On 21 August 2022, BDB Lagenda Sdn. Bhd., a joint venture (“JV”)

Simfoni West within the 2,200-acre

10 | BINA DARULAMAN BERHAD Annual Report 2022

KEDAH HOLDINGS SDN. BHD.

Founded on 2 February 1982, Kedah Holdings Sdn. Bhd.’s (“Kedah

Kedah Holdings‘ portfolio comprises:

Bandar Sejahtera located in Pokok Sena, Kedah

BDB LEISURE SDN. BHD.

12 | BINA DARULAMAN BERHAD Annual Report 2022

BDB DARULAMAN GOLF RESORT BERHAD

BDB Darulaman Golf Resort Berhad (“BDGRB”) has a world-class

BINA DARULAMAN BERHAD Annual Report 2022 | 13

BINA DARULAMAN BERHAD

KEDAH HOLDINGS SDN. BHD. BDB LAGENDA SDN. BHD.

BDB LAND SDN. BHD. 100%

14 | BINA DARULAMAN BERHAD Annual Report 2022

BOARD AUDIT COMMITTEE BOARD INVESTMENT COMMITTEE AUDITORS

Dato’ Zakiah Binti Kassim

Tuan Haji Muhamad Sobri Bin Osman