Rohas Tecnic eyes RM500 million order book
KUALA LUMPUR: Rohas Tecnic Bhd, which made its debut on the Main Market of Bursa Malaysia yesterday, has set an order book target of over RM500 million for this year in power transmission, water treatment and telecommunications projects.
Rohas-Euco Industries Bhd chief executive officer Leong Wai Yuan said the group was in the midst of bidding for a US$50 million worth water treatment project in Vietnam and looking forward for the project to be on the table soon.
“We see how that goes in the coming times. Many bidding projects are subjective, depending on market conditions and market competitions.
“It is more important to build our capability.
“Any results from those bidding activities just reflect how well we are (doing) in the markets,” he told reporters after the company’s listing yesterday.
The company’s order book currently stood at RM180 million, which would last for
We see how that goes in the coming times. Many bidding projects are subjective, depending on market conditions and market competitions. Leong Wai Yuan, Rohas-Euco Industries Bhd chief executive officer
one-and-a-half years on the back of its expansion plan into Southeast Asia.
Rohas Tecnic is the product of a reverse takeover between Rohas-Euco Industries Sdn Bhd (REI) and investment holding company, Tecnic Group Bhd.
REI was a steel structure fabricating company that was once listed on the bourse, before it was taken private by businessman Tan Sri Wan Azmi Wan Hamzah nine years ago.
It was primarily involved in the design, fabrication and erection of power transmission and telecommunication towers, as well as steel structures for power sub-stations.
Leong said the group raised about RM26 million from the listing exercise and of the amount, RM10 million would be used in building efficiency in its manufacturing capacity.
“We need to buy new machines and invest in new technology that will enable us to have a lower cost base to achieve higher efficiency,” he said.
Leong said the bulk of the group’s revenue came from the domestic market, contributing 90 per cent.
He expected the revenue contribution from both domestic and international to be in a ratio of 70:30 within the next three years.
On the outlook of the power transmission business, Leong said, the demand for power would be significantly huge in the future.
“Therefore, we are just well placing ourselves to build that for Malaysia.
“Also, we want to tap the opportunities in Sarawak, where there will be a big hydroelectric projects that will be built begining of the year.
“We hope to be there to supply transmission powers,” he said.
Rohas Tecnic opened at 99.5 sen, 11.16 sen lower than Tecnic Group’s last trading price of RM1.12. — Bernama