KUALA LUMPUR: UEM Edgenta Bhd remains bullish about its prospect, saying it is well positioned to win some of the RM150 billion of key infrastructure projects.
“We are optimistic of the future and will continue to pursue opportunities in infrastructure projects for both our infra services (IS) and asset consultancy divisions.
“In fact, we are well positioned to capture some of the RM150 billion worth of key infrastructure projects initiated by the government for the next five years,” UEM Edgenta managing director Azmir Merican said in a statement on its interim results yesterday.
He added that its order book was still very strong at RM5.5 billion and this included the recently-secured RM87 million contract for the Relocation of Telecommunication Works for MRT2 as well as RM87.3 million routine maintenance services and network maintenance management for LPT2.
“We believe there are many other similar projects in the market which we could capture. We are continuously pursuing growth and we are expecting a positive result for 2016,” he added.
UEM Edgenta posted a net loss of RM8.04 million in the second quarter ended June 30 2016, mainly due to a RM68.3 million impairment.
Group revenue stood at RM697.51 million from RM794.5 million a year ago.
Quarter-on-quarter, the revenue was seven per cent higher than the RM651.8 million recorded in the first quarter of 2016.
On the RM68.3 million impairment, Azmir said it was a prudent decision given that Opus Stewart Weir was faced with continued weakening oil prices while Opus’ Australian operations was still confronted with sluggish economic environment of the country.
UEM Edgenta also announced that its deputy chairman Amir Hamzah Azizan had been appointed as chairman effective yesterday.