By Sharen Kaur
Published in NST on June 7 2010
PUTRAJAYA Perdana Bhd has bid for building and infrastructure projects worth more than RM3 billion this year as it is upbeat on the construction sector.
Chief executive officer Wie Hock Kiong said the group will eye private finance initiative projects under the 10th Malaysia Plan. It may also grow its concession business.
Putrajaya Perdana, via subsidiaries CMS Roads Sdn Bhd and CMS Pavement Sdn Bhd, holds a concession for road maintenance in Sarawak until 2017.
The group expects to do better this year because it has more projects in hand and the stable contribution from the concession division.
"Financially, we are strong and that gives us the edge to bid for large projects," Wie said after the company's shareholders meeting yesterday.
"The key challenge for us is the price of building materials, which is very volatile and there are more players in the market place," he said.
The group, which is focused in Malaysia, may look abroad for projects, riding on Saudi Arabia's PetroSaudi International Ltd's (PSI) international presence.
Diversified PSI is buying all shares in UBG Bhd, the parent of Putrajaya Perdana, for RM2.50 a share.
"We are waiting for the deal between PSI and UBG to be finalised. If PSI asked us to go overseas and bid for projects, we will. We are ready," Wie said.
Putrajaya Perdana's outstanding order book is worth more than RM1 billion. Its major on-going projects include a RM287.2 million contract to build a 50-storey office building at Naza TTDI's Platinum Park in Kuala Lumpur, and office buildings in Putrajaya and in Sarawak.
The group has one building project worth RM20 million in Abu Dhabi.
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