News Item: : MTD ACPI expects turnaround after 4yrs of losses
(Category: Publication - The Star)
Posted by Web Master
Tuesday, 25 September 2007
KUALA LUMPUR: MTD ACPI Engineering Bhd remains optimistic of its prospects on the back of a burgeoning order book, said group managing director Datuk Azmil Khalid.
"We’re looking at turning around during the current financial year after four years of losses," he said after the company AGM Tuesday.
He said the company's order book presently stood at some RM1.9bil, of which RM200mil was from the precast business.
MTD ACPI recently divested its 49% stake in ACP Tracks, which is the special purpose vehicle that houses seven of MTD ACPI's subsidiaries involved in precast operations, to Trek Layar for RM9.8mil.
Khalid said the precast operations were currently running below capacity, and hoped to boost that with the entry of a strategic partner.
"We were talking to three and we decided on this one. Now that we have formalised the stake sale, it's time to get more orders," he added.
Parent company MTD Capital Bhd was expected to add two other contracts, which involve construction of highways in China and Indonesia worth a total RM2.2bil, into MTD ACPI's order book, Khalid said.
The two toll road projects in China and Indonesia have already been awarded to MTD Capital.
Chairman Datuk Dr Nik Hussein Abdul Rahman said MTD ACPI was also focusing on Sri Lanka.
"MTD ACPI is already involved in the housing segment. We’re looking at infrastructure jobs as well," he added.
This news item is from MTD ACPI Engineering Berhad
( http://www.mtdacpi.com/news.php?extend.2 )
(Category: Publication - The Star)
Posted by Web Master
Tuesday, 25 September 2007
KUALA LUMPUR: MTD ACPI Engineering Bhd remains optimistic of its prospects on the back of a burgeoning order book, said group managing director Datuk Azmil Khalid.
"We’re looking at turning around during the current financial year after four years of losses," he said after the company AGM Tuesday.
He said the company's order book presently stood at some RM1.9bil, of which RM200mil was from the precast business.
MTD ACPI recently divested its 49% stake in ACP Tracks, which is the special purpose vehicle that houses seven of MTD ACPI's subsidiaries involved in precast operations, to Trek Layar for RM9.8mil.
Khalid said the precast operations were currently running below capacity, and hoped to boost that with the entry of a strategic partner.
"We were talking to three and we decided on this one. Now that we have formalised the stake sale, it's time to get more orders," he added.
Parent company MTD Capital Bhd was expected to add two other contracts, which involve construction of highways in China and Indonesia worth a total RM2.2bil, into MTD ACPI's order book, Khalid said.
The two toll road projects in China and Indonesia have already been awarded to MTD Capital.
Chairman Datuk Dr Nik Hussein Abdul Rahman said MTD ACPI was also focusing on Sri Lanka.
"MTD ACPI is already involved in the housing segment. We’re looking at infrastructure jobs as well," he added.
This news item is from MTD ACPI Engineering Berhad
( http://www.mtdacpi.com/news.php?extend.2 )