MANAGEMENT DISCUSSION AND ANALYSIS Our on-going projects and sales orders comprise of contracts secured from, amongst other, Saraworks Sdn. Bhd., Eco World Development Group Berhad group, UEM Sunrise Berhad Group, S P Setia Berhad Group and China Communications Construction Company Ltd. Our ongoing projects and sales orders include the following: (a) the SSRL Project for a contract sum of RM0.78 billion; (b) design and build project for 1 block of service apartment and amenities in Johor for a contract sum of RM98.85 million; and (c) few sales orders for the supply of IBS components and tunnel lining segments (“TLS”) to Singapore MRT project. The Board is optimistic that the construction sector of Malaysia and Singapore will continue to be vibrant in 2025, thus offer order book replenishment prospects. The Group will continue to bid for projects and sales orders in order to replenish the Group’s order book and contribute positively to the Group’s result in 2025 and beyond. The Group’s track record in the industries that it operates in, and extensive experience in our business, coupled with the support from bankers, are good supporting factors for the Group to bid for and execute future projects. Malaysia Construction Sector The Group expects some tender opportunities from the following public sector projects in 2025: • Highway projects in East Malaysia; • Road upgrading works in Johor; • Penang LRT projects; and • Affordable housing projects In the home base of the Group, Johor, developers are upbeat with the improvement in the property market sentiment given the Johor Bahru-Singapore RTS project is progressing on schedule, and significant foreign direct investment with data centers and the Johor-Singapore Special Economic Zone as key drivers. There were marked increase in tender invitations and project awarded to the Group since year 2023. The Group secured RM2.17 billion worth of construction projects in year 2024. Other than projects from external parties, the Group’s construction arm will undertake construction works for in-house property development projects as detailed in the ensuing section of this report. Focus and Strategies for 2025 Construction Division: • Execution of projects in hand • Leverage on the diversified construction services track record to bid for new public and private sector projects • Undertake in-house projects Manufacturing Division: • Bid for precast products order from Singapore and Malaysia markets, including those in relation to MRT line and rail line, and private sector IBS orders • Complete the expansion of production line Property Development Division: • On-going development of Phase 2 of Bukit Bayu, Selangor • Launching of 2 service apartment projects in Johor with total of GDV of RM1.1 billion • Development planning of land bank in hand 024
RkJQdWJsaXNoZXIy NDgzMzc=