Tebrau Teguh banking on Johor construction deals
Posted on | July 3, 2007 | No Comments
By THE STAR
JOHOR BARU: Tebrau Teguh Bhd is currently bidding for construction projects worth over RM1bil under the Ninth Malaysian Plan (9MP) and in the Iskandar Development Region (IDR).
Executive chairman Johar Salim Yahaya said all the tendered projects were in Johor and the company was confident of securing at least 30% worth of the contracts.
They included the RM900mil river-cleaning project and the new Permas-Pasir Gudang coastal highway, he said.
“The 9MP and IDR offer good opportunities for the company to enhance its earnings in the long term,” Johar told StarBiz after the company AGM last Thursday.
Under 9MP, some 1,650 projects are in various stages of planning, tender awarding, design and work specification in Johor.
Johar said the river-cleaning project involved three rivers in the Johor Baru district – Skudai, Segget and Tebrau – which were badly polluted.
He said the 20-year IDR plan, with estimated investments of US$108bil, would transform the socio-economy of southern Johor.
The RM12bil allocation from the Government to improve the infrastructure in IDR over the next five years would also offer many opportunities.
Johar said Tebrau Teguh still had 1,200ha of river-fronting undeveloped land within the IDR and it would fully utilise the property to benefit from the growth area.
“The company wants to retain its competitive edge and maximise its land value and return with the right product,” he said.
Johar said the company would be launching The Oasis @ Bayu Puteri, comprising 180 five-storey town houses, this month.
For the financial year ended Dec 31, 2006 (FY06), Tebrau Teguh recorded pre-tax profit of RM1.43mil on revenue of RM64.49mil compared with RM660,000 and RM34.24mil respectively in FY05.
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