Mudajaya targeting ‘low-hanging fruit’ projects

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.