Mu­da­jaya tar­get­ing ‘low-hang­ing fruit’ projects

The Sun (Malaysia) - - SUNBIZ - BY EE ANN NEE

PETALING JAYA: Loss-mak­ing Mu­da­jaya Group Bhd said is not im­pacted by the change in govern­ment and the re­view of mega projects in the con­struc­tion sec­tor and the group is cur­rently tar­get­ing “low-hang­ing fruit” projects.

Chair­man Datuk Yusli Mo­hamed Yu­soff said it is still early days with the new govern­ment.

“We’ll have to wait to see what they de­cide. We’re in­ter­ested to par­tic­i­pate in any of the ma­jor in­fra­struc­ture projects in this coun­try given our track record. Go­ing for­ward, we should be able to par­tic­i­pate in a more level play­ing field. Mu­da­jaya should stand a chance as good as any other con­struc­tion group for large projects in Malaysia,” he told re­porters af­ter its AGM here yes­ter­day.

Mean­while, group man­ag­ing di­rec­tor and CEO James Wong Tet Foh said its cur­rent projects like the MRT2, LRT3, Pan Bor­neo High­way and works in Pengerang are not af­fected, but noted that its bid for MRT3 is off as the govern­ment has scrapped the project.

“We’ve to move on with new ten­ders. We’re in­vited for an­other hos­pi­tal bid. It (ten­ders) is com­ing in. Be­ing com­pet­i­tive, trans­par­ent, able to de­liver and ex­e­cu­tion are key fac­tors for us,” he said.

Mu­da­jaya has ten­dered for RM3 bil­lion worth of projects, in­clud­ing the East Coast Rail Link and so­lar farm projects. It has a con­struc­tion or­der book of RM2 bil­lion that can last the group for two to three years.

“We will tar­get low-hang­ing fruits (projects). Some of the low-hang­ing fruits would be some of the power projects par­tic­u­larly in re­new­able so­lar farms, as a lot of them have started to kick off, PPA (power pur­chase agree­ment) signed, look­ing for fund­ing and look­ing for ex­pe­ri­enced con­trac­tors with good track record,” Wong said.

The stock closed 1.1% higher at 47 sen yes­ter­day with some 927,300 shares traded.

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