Pin­taras Jaya ex­pects to do bet­ter in FY17

> Foun­da­tion and pil­ing spe­cial­ist aims to keep or­der book be­tween RM250m and RM300m

The Sun (Malaysia) - - SUNBIZ -

SUBANG: Pin­taras Jaya Bhd is set to im­prove its per­for­mance for the fi­nan­cial year end­ing June 30, 2017 (FY17), tar­get­ing to match its FY15 rev­enue con­tri­bu­tion on the back of ex­pected higher rev­enue from job wins.

Man­ag­ing di­rec­tor Dr Chiu Hong Keong said the foun­da­tion and pil­ing spe­cial­ist ex­pects its FY17 per­for­mance to be bet­ter than that of FY16 but slightly lower than FY15’s.

For FY16, Pin­taras posted a markedly lower pre-tax profit of RM23 mil­lion from RM68.57 mil­lion in FY15, while rev­enue dropped 44% to RM137 mil­lion from RM243 mil­lion as con­struc­tion rev­enue fell 50%.

The com­pany’s or­der book stands at RM150 mil­lion af­ter start­ing 2016 with over RM200 mil­lion, he told re­porters af­ter the an­nual gen­eral meet­ing here yes­ter­day.

“The com­pany has nine more months into this fi­nan­cial year, and we ex­pect more job wins to re­plen­ish our or­der book.

“How­ever, our fo­cus is not so much on what we want to se­cure for the year, but rather on what we want to ex­e­cute for the year, de­pend­ing on our ca­pac­ity which would be enough to keep the com­pany busy,” Chiu said.

He said the com­pany is tar­get­ing to main­tain its or­der book at be­tween RM250 mil­lion and RM300 mil­lion, based on its cur­rent equip­ment and peo­ple ca­pac­ity.

Chiu said Pin­taras is cau­tious on its ex­pan­sion fol­low­ing a sub­dued property mar­ket, but will con­tinue to be on the look­out for op­por­tu­ni­ties in the in­fra­struc­ture projects and property turn­around.

“We have al­lo­cated about RM20 mil­lion a year for cap­i­tal ex­pen­di­ture. When things pick up, we will ex­pand and use the fund and even ex­ceed the al­lo­ca­tion fig­ure, but when it is down, we might not even use it.”

Chiu said in­fra­struc­ture projects like the Mass Rapid Tran­sit 2 and Light Rail Tran­sit ex­ten­sions and other high­way projects are still at the ini­tial stage and the ground work, in­clud­ing the ap­point­ment of sub­con­trac­tors, has not started. – Ber­nama

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