NWP, Al­ma­ni­aga eye RM19m an­nual profit

New Straits Times - - Business -

KUALA LUMPUR: Tim­ber prod­ucts man­u­fac­turer NWP Hold­ings Bhd and Al­ma­ni­aga Sdn Bhd are eye­ing a RM19 mil­lion an­nual profit from a con­tract for the in­stal­la­tion and con­nec­tion of elec­tric­ity and wa­ter to nine refugee set­tle­ments in Sabah.

NWP had en­tered into a share pur­chase agree­ment to ac­quire 51 per cent of the eq­uity in­ter­est in Al­ma­ni­aga’s unit, Si­nar Ma­ju­mas Sdn Bhd, for RM1.5 mil­lion cash.

Si­nar Ma­ju­mas was awarded the rights to un­der­take and man­age the in­stal­la­tion and con­nec­tion of elec­tric­ity and wa­ter sup­ply to 27 refugee set­tle­ment sites un­der “Skim Pen­em­patan Masyarakat Pe­lar­ian” in Sabah by the su­per­vi­sion of the Na­tional Se­cu­rity Coun­cil of Malaysia.

NWP will ini­tially pro­vide the fund­ing for the in­stal­la­tion and con­nec­tion of wa­ter sup­ply at nine sites. The prof­its gen­er­ated from the ini­tial in­stal­la­tion would then be used to fund in­stal­la­tions and con­nec­tions at the re­main­ing 18 sites.

“The com­pa­nies plan to col­lab­o­rate with Univer­siti Malaysia Sabah for re­search and de­vel­op­ment re­lated to wa­ter and elec­tric­ity dis­tri­bu­tion sys­tem,” it said. Za­rina Zakariah

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