The chances of getting the project is very good, its Chairman, Tan Sri Tan Kay Hock told reporters after the company's annual general meeting here today.
Prasarana Bhd is expected to announce the winner of the Ampang LRT extension project by September this year. Tay also said the company, which also produces water meters and the casing
for the meters has embarked on a RM50 million plan to upgrade its manufacturing facilities in Puchong, Selangor to accommodate higher sales in the meter and Original Equipment Manufacturing businesses.
He said the present plant was already producing at a maximum capacity. With the expansion, George Kent aims to double its production capacity to two million completed meters and two million pieces of non-meter brass parts per annum.
George Kent's pre-tax profit for the first quarter ended Apr 30, 2011 jumped to RM4.8 million from RM3.9 million in the same quarter last year. Its revenue, however, slipped to RM30.7 million from RM32.5 million previously.
Tay said the demand for meters from Hong Kong, Macau, Middle East, Puerto Rico and Colombia remained strong. "The company has also penetrated Vietnam and Laos, where we expect good
returns," he said, adding that the company expects to sustain its growth as the year progresses. -- Bernama
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