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Thursday, June 23, 2011

Mudajaya says its order book will balloon to RM6bn (CIMB)

Mudajaya Group says its order book will balloon to RM6bn within the next eight months from both domestic and overseas jobs. The company has RM5bn jobs in hand that should keep it busy for the next 2-3 years. “I think we should be able to clinch another RM1bn worth of contracts in the next 6-8 months,” says Mudajaya MD Anto Joseph after its AGM yesterday. The company has about RM3.5 billion worth of target tenders in the pipeline, a substantial portion from domestic jobs.

• Among the jobs it is expecting to bag is the 1,000MW extension of the Tanjung Bin power plant in Johor worth about RM5bn.”We are still negotiating for the job and the formal award for the engineering, procurement and construction consortium should be out no later than September this year,” he said.

• Mudajaya is now undertaking the equipment procurement contract for the 4x360MW Chhattisgarh independent power plant (IPP) in India. Delays caused by villagers seeking higher compensation for the sale of their lands pushed back the project by four months and has hurt the company’s 1QCY11 earnings. However, Mudajaya said the issue has been resolved. (BT)

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