SUBANG JAYA: Construction-centric aims to double its revenue and profit this financial year ended Dec 31, 2015 boosted by its two main contributing segments.
“What the company is looking to achieve this financial year is to double our turnover. If we do we will cross the RM1bil mark. We also hope to double in net profit,” said managing director Tan Eng Piow.
He told reporters after the company’s AGM and EGM that he expects contribution from the construction business to remain at 70% this year, supported by its RM1.75bil outstanding order book.
Although there are fewer new projects coming into the market, Tan said based on the jobs the company has in hand, “there is no slowdown”.
It’s property segment now makes up for 20% of the group’s profits. Mitrajaya has close to RM1bil in ongoing and partially completed property projects.
Tan added that the company’s South Africa investment should perform better this year, against its 10% profit contribution in 2014.
“This year we would see South Africa playing also a significant part,” he said.
