Construction still big market for group


HAVING established a track record as a Class A contractor who delivers on time and is capable of handling all aspects of a project from design to construction, Prinsiptek Corp Bhd is confident of making further inroads in the local and international construction arena.

Besides looking to clinch projects under the Ninth Malaysia Plan (9MP), the construction group is also looking at tapping the vast opportunities in the regional market.

Having secured a turnkey project to build low cost housing with a contract value of RM194mil from the National Housing Authority of Thailand, the group is looking to clinch more similar contracts in Thailand.

“We are also looking at tapping the vast market in India and Vietnam which are undergoing massive infrastructure development,” executive director Foo Chu Pak said.

Locally, he said the roll out of the 9MP projects augured well for the construction sector.

There will be RM46.8bil in development expenditure allocated for infrastructure and utilities over the 9MP period of 2006 to 2010 – an increase of 21% compared with the allocation under the Eighth Malaysia Plan.

“We are confident the roll out of the projects will revitalise the construction industry and are eyeing projects that we have competency in,” Foo said.

Among its ongoing projects are the building of Bukit Jalil Flats worth a contract value of RM86.5mil, apartments in Putrajaya for government servants worth RM211.9mil and other turnkey housing projects in the Klang Valley worth more than RM300mil.

There are also other construction and infrastructure projects with a total contract value of close to RM300mil.

Since making its foray into the construction business in 1990, Prinsiptek has completed projects for First World Hotel Genting Highlands, Awana Country Club, and built condominium and budget hotels in Genting Highlands, as well as apartments, shophouses and residential property in Shah Alam and Ampang.

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