Scomi tracking RM1b renewable energy deals
KUALA LUMPUR: Scomi Group Bhd foresees higher demand for mass public transportation, especially from developing countries.
Its chief financial officer Mukhnizam Mahmud said it saw opportunities in electric train projects such as Mass Rapid Transit (MRT) and Light Rail Transit (LRT).
“With these projects in sight, our engineering division’s revenue is expected to improve in the financial year ending March 31 2019.”
The unit is targeting to complete the second phase of a rail project in India by year-end. The first phase has been in operations for three years.
Mukhnizam said the group had yet to confirm involvement in any rail project in the country, particularly the monorail system. .
On whether it was interested to upgrade Malaysia Airports Holdings Bhd’s ageing aerotrain, he said: “Not directly. Those are the Bombardier products that we handle. We are not in talks with them.”
Mukhnizam said the group’s plan to build a third monorail line in China would take some time as the Chinese parties had not made their decisions yet.
The engineering division’s current order book stands at RM1.9 billion, with a tender book amounted to RM3.3 billion.
It said potential overseas markets included Thailand, Turkey, United Arab Emirates and China while any local project would be dependent on government spending in rail systems. Ayisy Yusof
With these projects in sight, the engineering division’s revenue is expected to improve in the financial year ending March 31 2019.
MUKHNIZAM MAHMUD Chief financial officer Scomi Group Bhd