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| Ooi: ‘The discussions are on potential changes or additions to the project’s scope of works.’ |
PETALING JAYA: George Kent (M) Bhd, an engineering specialist, expects the acceleration of works at the RM1.1bil Ampang Light Rail Transit, or LRT line extension project, to boost its earnings for the financial year ending Jan 31, 2016.
Executive director Bernie Ooi told a media briefing that the group was also in discussions with Prasarana Malaysia Bhd on “order variations”, which might result in more revenue from the project.
“The discussions are on potential changes or additions to the project’s scope of works,” he said.
The project, which it is working on with consortium partner Lion Pacific Sdn Bhd, is the major contributor to its engineering division.
The project’s deputy director Jonathan Goddard said it was 60% completed.
“We are on track to meet the schedule of works set by the client,” he said.
Ooi said the group had an order-book of RM1.5bil. “From the order-book, we expect to burn about RM400mil to RM500mil each year. As for our tender book, we have RM10bil.”
The group was also optimistic about its metering division, which Ooi said had an annual production capacity of more than two million meters, following investments of nearly RM50mil in recent years.
“In terms of meter production, we are operating at 75% capacity at present,” said Ooi, who led a media tour of the group’s technology centre in Puchong.
The centre, located on 6.9ha, is the largest hot brass forging plant in South-East Asia and produces water meters and brass fittings.
The group is the market leader for metering products in Malaysia, with more than 50% market share.
It exports to more than 40 countries, with the main markets being Vietnam, Singapore, Hong Kong and Cambodia.
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Source: The Star Online - Malaysia
http://www.thestar.com.my/Business/Business-News/2015/04/22/LRT-extension-job-to-lift-George-Kent-earnings/?style=biz
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