Date: Thursday, 17 September 2015
Category: Publication - Bernama Online
Category: Publication - Bernama Online
BATU CAVES, Sept 17 (Bernama) -- Infrastructure company MTD ACPI Engineering Bhd (MTDACPI) has secured a RM500 million order book for its construction and manufacturing segments, which are expected to be kept busy until July 2016.
President/Chief Executive Officer Datuk Azmil Khalili said the company is also looking into the possibility of acquiring more projects in the coming years.
"The order book comprises a combination of local and overseas projects, and with the tough times ahead in the construction industry in Malaysia we try to seek opportunities in overseas markets," he told reporters after the company's annual general meeting here today.
He said the company has a presence in 15 overseas markets, with MTDACPI active in seven countries with construction and manufacturing projects.
"We cannot depend on the Malaysia market alone to continue to make a profit as well as sustain growth. We need to look at other countries that are booming and have demand, for example Sri Lanka and the Middle East," he said, adding that overseas markets contribute 20-25 per cent to the company's earnings.
Azmil said the company is already active in the Middle East including Saudi Arabia, Oman, Qatar and the United Arab Emirates, as well as in Sri Lanka, Singapore, Indonesia and the Philippines.
He said although Malaysia still remains the target market, with the current competitive situation in the industry the company needs to get jobs overseas.
"Now, we are more into proposing projects rather than tendering, and our parent company MTD Capital will then help to propose the projects to the government and possible clients, and once it is approved the project will be passed on to the construction segment.
"We mainly use local contruction materials, but for overseas projects we try to use facilities from that country itself, and this does not affect MTDACPI's performance despite the weakening ringgit," he said.
For the first quarter ended June 30, 2015, its pre-tax profit rose to RM5.7 million from RM0.8 million in the same quarter last year. Revenue, however, fell to RM49.8 million from RM85.3 million previously.
Azmil said the weaker revenue was due to the tough environment in the construction segment, which registered a lower turnover with not many projects for the quarter under review.
-- BERNAMA
President/Chief Executive Officer Datuk Azmil Khalili said the company is also looking into the possibility of acquiring more projects in the coming years.
"The order book comprises a combination of local and overseas projects, and with the tough times ahead in the construction industry in Malaysia we try to seek opportunities in overseas markets," he told reporters after the company's annual general meeting here today.
He said the company has a presence in 15 overseas markets, with MTDACPI active in seven countries with construction and manufacturing projects.
"We cannot depend on the Malaysia market alone to continue to make a profit as well as sustain growth. We need to look at other countries that are booming and have demand, for example Sri Lanka and the Middle East," he said, adding that overseas markets contribute 20-25 per cent to the company's earnings.
Azmil said the company is already active in the Middle East including Saudi Arabia, Oman, Qatar and the United Arab Emirates, as well as in Sri Lanka, Singapore, Indonesia and the Philippines.
He said although Malaysia still remains the target market, with the current competitive situation in the industry the company needs to get jobs overseas.
"Now, we are more into proposing projects rather than tendering, and our parent company MTD Capital will then help to propose the projects to the government and possible clients, and once it is approved the project will be passed on to the construction segment.
"We mainly use local contruction materials, but for overseas projects we try to use facilities from that country itself, and this does not affect MTDACPI's performance despite the weakening ringgit," he said.
For the first quarter ended June 30, 2015, its pre-tax profit rose to RM5.7 million from RM0.8 million in the same quarter last year. Revenue, however, fell to RM49.8 million from RM85.3 million previously.
Azmil said the weaker revenue was due to the tough environment in the construction segment, which registered a lower turnover with not many projects for the quarter under review.
-- BERNAMA
--- Back to News Listing ---