KUALA LUMPUR: Marine transportation provider EA Technique (M) Bhd has mapped out plans to take its business a notch higher by extending its current shipyard facilities, growing its port services by providing harbour tugboats, anchoring further in the downstream transportation of refined products and chemicals, and raising funds through private placement.
Managing director Datuk Abdul Hak Md Amin said these strategies were vital in growing EA Technique, as well as strengthening its position in the market, especially ahead of full commencement of the Refinery and Petrochemical Integrated Development (Rapid) project in Pengerang, Johor.
“EA Technique is currently drafting expansion plans to grow the company further. We aim at growing our non-marine transportation segment which involves shipbuilding and ship repairing.
“These activities are operated by our wholly owned subsidiary, Johor Shipyard and Engineering Sdn Bhd, and we are actively engaging the landlords to purchase another 8ha of land adjacent to the current plant that spread across 8.09ha,” he told Bernama.
The current capacity of Johor Shipyard is building one 10,000 deadweight tonnage (dwt) tanker or six units of 60 tonnes bollard pull harbour tugboats (Bollard pull is a conventional measure of the pulling power of a tugboat or watercraft).
The homegrown EA Technique is positioned in the top three among companies in the small size (15,000 dwt) tanker segment, the leader in the tugboat for port and offshore operation, and one of the successful floating storage and offloading vessel (FSO) and FSPO players in the country.
On the preparation to supply vessels to Rapid Pengerang, Abdul Hak said the company is looking into adding chemical vessels into EA Technique’s fleet even though it is taking a “wait-and-see” approach towards Rapid operations before making further decision.
“We are going to enter into that (chemical) market… we do have chemical tankers now but we are looking for more business opportunities in that area. We are going to tender for their projects but for now, we would wait for Petronas or other national petroleum and natural gas companies to come out with order requirement. – Bernama
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PETALING JAYA: Matrix Concepts Holdings Bhd is optimistic of delivering a resilient year ahead, building upon strategic undertakings and its record performance despite the challenging property sector in the financial year ended March 31, 2019 (FY2019).
In FY2019, the group registered 27.7% higher revenue of RM1.05 billion, breaching the billion ringgit mark for the first time, while net profit improved to RM218.4 million from RM213.3 million previously, supporting a dividend payout of RM97.1 million constituting 44.6% of its net profit for the year.
Meanwhile, the group’s new property sales rose to a record RM1.3 billion in FY2019, 9.7% higher from RM1.2 billion previously.
Group chairman Datuk Mohamad Haslah Mohamad Amin said the group would continue its strategy to target the robust demand in the mass market categories, as well as enhance its businesses through strategic collaborations and diversification of its revenue base.
He said the group achieved its best-ever performance in FY2019, reinforcing its track record of consistent growth since listing, and delivering greater returns to shareholders.
“The commendable performance was driven by higher sales of our landed properties, and a launch mix of mainly affordable to mid-end offerings in Negri Sembilan and Johor,“ said Mohamad Haslah in a statement.
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PETALING JAYA: Members of the Federation of Malaysian Manufacturers (FMM) are bracing for a sluggish second half in 2019 due to uncertainties arising from the US-China trade tensions, Brexit and global economic slowdown.
Its President Datuk Soh Thian Lai (pix) cited the organisation’s business conditions survey conducted with Malaysian Institute of Economic Research indicated that only 29% of its respondents are projecting a pick up in business activities, while 28% are expecting a slowdown and the rest foresee their business to remain unchanged.
Meanwhile, the survey also revealed that the manufacturing sector took a downturn in the first half of the year with the business conditions index registering a score of 78 points against 107 points recorded in the second half of the previous year.
With regards to trade, only 25% of FMM members surveyed expect higher export sales in the second half of the year.
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