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Thursday, June 28, 2012

Faber to continue expanding integrated facilities management division

KUALA LUMPUR: Faber Group Bhd will continue to expand its integrated facilities management (IFM) business locally and overseas by targeting commercial buildings apart from hospitals.

Faber managing director Adnan Mohammad said the company would continue to pursue the non-concession business in United Arab Emirates and India actively as there were opportunities there.

He said the company was looking at commercial buildings, such as offices for the IFM arm, besides hospitals.

“The competition is posed by low barriers to entry. We are coming up with innovative products related to energy and environment and link it with our services,” he said.

Meanwhile, Adnan said the extension to the existing concession agreement (CA) for the privatisation of hospital support services was still pending.

He said the CA would depend on the “negotiation and meetings with the Government.” “We hope that there will be a conclusion by the end of this year.”

Currently, the company's IFM unit contributes 82% to revenue with the concession business contributing 64% and non-concession business the remainder.

Adnan said the property unit, which contributed 18% to revenue, was still negotiating with landowners and potential joint-venture partners.

He, however, declined to reveal details of the discussions as they were in “preliminary stage.” “The real challenge is getting the right piece of land, which is scarce.”

“With the on-going projects, we have until 2016 to complete (the lands we have) in Kuala Lumpur,” he told StarBiz when asked about the size of the company's landbank.

“The 2.5 acres at Persiaran Gurney will be launched in the fourth quarter of 2012 and condominium units on a 5-acre site in Kota Kinabalu will be launched next year,” Adnan said.

By The Star

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