KUALA LUMPUR: Ahmad Zaki Resources Bhd (AZRB), which has an orderbook of RM1.9bil, is eyeing private sector projects, including redeveloping older buildings along Jalan Sultan Ismail in Kuala Lumpur.
“Besides tendering for government-related projects, we are looking at the private sector such as the redevelopment of a few older hotels along Jalan Sultan Ismail,” said managing director Datuk Wan Zakariah Wan Muda.
“We have not placed our bids but we are eyeing because we think that is our forte,” he told the reporters after the company's AGM yesterday.
He said that the company was also bidding for constructing and upgrading of towers blocks in the private sector.
“We have surpassed our target for this year after securing the MRT project. It would be good if there are additional jobs,” he said.
The company's projects at hand include the MyRapid Transit (MRT) Sungai Buloh-Kajang line viaduct 6 and International Islamic University's (IIUM) teaching hospital.
“We also participate in the bidding for Kuala Lumpur International Financial District,” he added.
He said the company's core business was still engineering and construction which accounted for 83% of its revenue. The company targets net revenue of at least RM500mil for the coming year.
“In order to replenish our orderbook, we are looking into at around the same amount if not more,” he added.
Wan Zakariah said: “We have obtained financial (aid) for IIUM (unofficially). The construction period is three and a half years whereas the concession period lasts for 21 years.”
In response to any signs of slowdown in construction projects, he said: “I don't think there is a slowdown. After the private finance initiative was introduced, there are big projects available.
“We have positioned ourselves to be a competitive and good builder in such projects.
“We make sure that we are efficient so that we can secure a sustainable volume to match with our size now.”
On updates of the MRT project, he said the project had started and was on schedule.
The project is expected to be completed within the construction period of 43 months.
As for its plantation segment which is still seeing red, chief operating officer Datuk Roslan Tan Sri Jaffar said: “We hope it will be self-sustainable for the three to four years to come as the palm trees would have reached maturity.
“We have a land bank of about 21,000 ha in Kalimantan.
“Currently, only 5,000 hectares is used and we plan to use another 10,000 ha over the next three years. We hope to get three to four tonnes of (palm) oil per hectare then.
“It is our strategic move to diversify our revenue streams through plantation,” he said.
By The Star
Posts
No comments:
Post a Comment