Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Thursday, June 12, 2008

SPK-Sentosa set to win projects in UAE

KUALA LUMPUR: SPK-Sentosa Corp Bhd is quite confident of clinching some construction projects in Abu Dhabi, according to managing director Saiful Aznir Shahabudin.

Saiful Aznir Shahabudin

He said this was part of its overseas expansion plans and the company was focusing on Abu Dhabi because of its buoyant construction market.

“We have put in several tenders and are still waiting for the results,” he said after the company AGM yesterday.

In 2007, the company secured a contract worth RM427mil to build two 44-storey towers on Al Reem Island in Abu Dhabi.

SPK-Bina Puri JV, a 70:30 joint venture between Pembinaan SPK Sdn Bhd (wholly-owned subsidiary of SPK-Sentosa) and Bina Puri Holdings Bhd, is undertaking the mixed residential, commercial and recreational development.

Saiful said the company was also bidding for projects under the Ninth Malaysian Plan, but declined to elaborate.

At present, SPK-Sentosa had a total order book of RM500mil, which should last the company until 2009, he said.

On its oil and gas division, he said the company had three ongoing projects - the RM146.2mil Miri Crude Oil Terminal Rejuvenation Project, the KR-1 sewer system modification project in Terengganu and the MDD 134 MLNG Dua Debottlenecking project in Bintulu.

Construction contributes 60% to the group's turnover, with the rest coming from the oil and gas division.

“Overall, we are aiming for an equal revenue and profit contribution from the two divisions this year,” he added.

By The Star

No comments: