By Sharen Kaur
Published in NST on August 31, 2013
KUALA LUMPUR: Datuk Mohamad Salim Fateh Din, founder of Gapurna Sdn Bhd (GSB), will be appointed group managing director of Malaysian Resources Corp Bhd (MRCB) effective Monday.
Business Times understands that Mohamad Salim and his 32-year-old son Mohd Imran Mohamad Salim, who is MRCB group chief operating officer, will drive the group to become a leading player in environmental construction.
The new management is expected to launch a roadmap next year, which will set the group's business direction and new strategies.
The plan is to have one-, three-, six- and 10-year roadmaps.
In an earlier interview with Business Times, Imran had said under the new management led by Mohamad Salim, MRCB will move into high-value construction with higher profit margins to fuel the company's growth.
According to Imran, MRCB will focus on niche, specialised areas such as environmental construction. These will involve rehabilitation projects and coastal rehabilitation works.
He said the focus on environmental construction will make the company less dependent on building construction work where margins are being squeezed due to massive competition in the sector.
MRCB will also diversify its property development activities to include niche projects and build more investment assets for higher recurring income.
Mohamad Salim's entry into MRCB is through its 16.8 per cent control of the group, following an asset injection exercise.
To recap, MRCB is trying to buy assets worth RM814 million from Nusa Gapurna Development Bhd (NGD), which is controlled by GSB and the Employees Provident Fund.
This includes taking full control of PJ Sentral Development Sdn Bhd (PJSD).
PJSD is developing the multi-billion ringgit PJ Sentral project in Petaling Jaya, a 70:30 joint venture between NGD and the Selangor State Development Corp.
Published in NST on August 31, 2013
Business Times understands that Mohamad Salim and his 32-year-old son Mohd Imran Mohamad Salim, who is MRCB group chief operating officer, will drive the group to become a leading player in environmental construction.
The new management is expected to launch a roadmap next year, which will set the group's business direction and new strategies.
The plan is to have one-, three-, six- and 10-year roadmaps.
According to Imran, MRCB will focus on niche, specialised areas such as environmental construction. These will involve rehabilitation projects and coastal rehabilitation works.
He said the focus on environmental construction will make the company less dependent on building construction work where margins are being squeezed due to massive competition in the sector.
MRCB will also diversify its property development activities to include niche projects and build more investment assets for higher recurring income.
Mohamad Salim's entry into MRCB is through its 16.8 per cent control of the group, following an asset injection exercise.
To recap, MRCB is trying to buy assets worth RM814 million from Nusa Gapurna Development Bhd (NGD), which is controlled by GSB and the Employees Provident Fund.
This includes taking full control of PJ Sentral Development Sdn Bhd (PJSD).
PJSD is developing the multi-billion ringgit PJ Sentral project in Petaling Jaya, a 70:30 joint venture between NGD and the Selangor State Development Corp.
No comments:
Post a Comment