PETALING JAYA: ML Global Bhd, whose order book totals RM1 billion, is optimistic of topping up with another RM1 billion worth of construction jobs, mainly to be awarded from parent LBS Bina Group Bhd, a property developer.
“The outlook for ML Global is good considering the healthy order book we have,” said group managing director Tan Sri Lim Hock San.
Lim was speaking to reporters after ML Global's shareholders' meeting here today.
Last week, ML Global told the stock exchange that LBS issued letters of intent concerning three contracts worth RM1.04 billion.
ML Global's unit, MITC Engineering Sdn Bhd, had received a letter of award to build four Rumah Selangorku apartment blocks in Bandar Saujana Putra valued at RM168.11 million.
MITC also received a letter of intent for piling and building works for four condominium towers in Bukit Jalil amounting to RM687.19 million.
The company will also carry out feasibility studies and building works for two blocks of serviced apartments in Sepang, for RM188.81 million.
These three projects are set to double ML Global’s current order book to RM2.08 billion and keep the group busy until 2020.
In embracing the government's policy on industrialised building systems (IBS) to mechanise as many construction processes as possible, ML Global said it wants to manufacture pre-cast panels at a new plant.
Executive director and chief executive officer Datuk Richard Lim Lit Chek said ML Global expects to invest up to RM40 million on the first phase of the plant.
"We will bring in the technology from China to construct in the factory and install the panels on site. We hope to see the first shear wall (using pre-cast concrete) up by next year," he said.
Richard explained that pre-cast panels are becoming more popular, as manual labour becomes increasingly costly and cumbersome to source.