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.

Wednesday, September 30, 2009

Ireka to tender for RM2.5b infrastructure jobs in Malaysia

Construction group Ireka Corp Bhd has been pre-qualified to bid for more than RM2.5 billion worth of infrastructure and building construction projects in Malaysia.

Ireka, which has been involved in construction since 1967, has bid for almost half the projects, two of them in a joint venture with foreign parties, its executive director Lai Voon Hon said.

Lai said the group will tender for the remaining jobs by the end of its current fiscal year.

"The results are expected to be known early next year and new projects would contribute significantly to our earnings in 2010 and 2011," he said after the group's shareholders meeting in Kuala Lumpur yesterday.
Lai said in future Ireka wants to focus on high-end residential and commercial development, in addition to infrastructure projects, riding on the lower construction material costs.

The company is eyeing government jobs like road and highway construction, housing, and extension of the light rail transit and Sepang low-cost carrier terminal projects.

In Vietnam, Ireka is exploring infrastructure-related projects.

Meanwhile, Ireka director and group financial controller Monica V.H. Lai said the group is expected to do better in the current financial year ending March 31 2010, given the value of jobs in hand.

By Business Times (by Sharen Kaur)

No comments: