mtd acpi engineering berhad
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MTD ACPI ENGINEERING BERHAD Company No. 199301004099 (258836-V)
(Incorporated in Malaysia)
Summary of Key Matters Discussed at the Twenty-Seventh Annual General Meeting of MTD ACPI Engineering Berhad (“MTD ACPI” or “Company”) held at the Registered Office of the Company at Menara MTD, 1, Jalan Batu Caves, 68100 Batu Caves, Selangor Darul Ehsan on Wednesday, 30 September 2020 at 9.30 a.m.
PRESENT : Shareholders / Proxies
(As listed in the attendance sheet)
1.0 OPENING REMARKS BY CHAIRMAN OF THE MEETING
Dato’ Ir. Kalid bin Alias, presided as Chairman of the meeting (“Dato’ Chairman”). Dato’ Chairman welcomed all shareholders, proxies, invitees and the Board of Directors (“Board”) present to the Twenty-Seventh Annual General Meeting of MTD ACPI (“27th AGM” or “the Meeting”). Dato’ Chairman proceeded to introduce all members of the Board, CEO, Company Secretaries, management team of the Company (“Management”) as well as, External Auditors, Messrs. BDO PLT, Poll Administrator from Mega Corporate Services Sdn. Bhd. and Independent Scrutineers from Mega Business Consultancy Division.
2.0 QUORUM
The presence of quorum pursuant to Article 66 of the Constitution of the Company was confirmed by the Company Secretary.
The Company Secretary informed that:
(a) As at 23 September 2020, the cut-off date for determining members who were entitled to attend, vote and speak at this Meeting, the Company has a total of 4,457 shareholders and the total issued shares stood at 230,995,798 MTD ACPI shares;
(b) The shareholders and proxies present at the 27th AGM at 9.30 a.m. were as follows.
1. Shareholders : A total of 15 shareholders representing 115,118 MTD ACPI shares or 0.02% of the total MTD ACPI shares; and
2. Proxies : A total of 7 proxies representing 156,599,509 MTD ACPI shares or 67.61% of the
total MTD ACPI shares were lodged within the stipulated time. Dato’ Chairman called the Meeting to order after confirming that the requisite quorum was present.
3.0 NOTICE OF MEETING
Dato’ Chairman with the permission of the Meeting declared that the Notice convening the Meeting dated 28 August 2020 be taken as read.
MTD ACPI ENGINEERING BERHAD Summary of Key Matters Discussed at the Twenty-Seventh Annual General Meeting held on 30 September 2020 Page 2/7
4.0 VOTING AND ADMINISTRATIVE MATTERS
Dato’ Chairman informed that the annual general meeting (“AGM”) is a principal forum for dialogue with shareholders, and all shareholders were invited to raise queries regarding the Company’s operations, agenda and resolutions to be tabled at the Meeting. Dato’ Chairman further informed that pursuant to paragraph 8.29 of Bursa Malaysia Main Market Listing Requirements, all resolutions set out in the notice will be put to the vote by way of poll, as follows. (a) Each and every motion requires a proposer and seconder from the floor. A motion has to be
proposed before it is opened to the members for discussion. (b) All proposers and seconders are required to give their full name before they propose or
second a motion, for record of minutes purpose. (c) Each member who is present in person or proxy or corporate representative is entitled to
vote and shall have one (1) vote for each share he/she holds. (d) Voting will take place after deliberations for all resolutions as set out in the Notice of
Meeting. (e) The Poll Administrator would brief on the conduct of the e-polling process before
commencement of voting.
5.0 PRESENTATION ON MTD ACPI GROUP’S HIGHLIGHTS
Dato’ Chairman invited Mr. Tee Kim Siew (“Mr. Tee”), CEO of the Company to present MTD ACPI Group’s highlights for financial year 2020 (“Presentation”). Mr. Tee shared the Presentation, a copy is annexed to this Minutes marked as “Annexure I” and briefed on the following salient points. 1. Introduction of Key Senior Management of MTD ACPI Group.
2. Comparison on the financial highlights for the financial year ended 31 March 2019 with that
of 31 March 2020, which include revenue, pre-tax loss, loss per share, net assets per share, shareholders’ fund and financial highlights on Civil Engineering & Construction Division and Manufacturing Division of MTD ACPI Group.
3. Updates on Civil Engineering & Construction Division comprised of the following:
3.1 Project Updates:
a. Projects pursued in financial year ended 31 March 2020 and status update on projects awarded
b. Balance Order Book
MTD ACPI ENGINEERING BERHAD Summary of Key Matters Discussed at the Twenty-Seventh Annual General Meeting held on 30 September 2020 Page 3/7
3.2 On-going projects in 2020 as at 31 August 2020 (RM948 million in value) including: a. Chuping Valley Industrial Area (CVIA) Perlis under NCIA b. KVMRT Sungai Buloh – Putrajaya Line Package V208 c. LPT2 – Pavement Rehabilitation KM413 –KM417 Ajil, Terengganu d. Residensi 7, Taman Sutera Kajang, Selangor e. Taman Tasik Utama, Ayer Keroh, Melaka, Phase 20A
3.3 Potential projects being pursued in financial year ending 31 March 2021
(RM1.18 billion in value) including: a. Central Spine Road (CSR) Package 4A – Kg Relong – Raub b. Phase 23 , Taman Tasik Utama, Ayer Keroh, Melaka c. Lebuhraya Kota Bharu – Kuala Krai Package 2C & 3A Kok Lanas – Bukit Tiu d. East Coast Rail Link (ECRL) Subgrade Section 4 – Package 1 e. Directional Ramp Senai Desaru Expressway (SDE), Johor f. Pembinaan Kem 13 Briged Infantri Tentera Darat, Lahad Datu, Sabah (ESSCOM)
4. Updates on Manufacturing Division comprised of the following:
4.1 Job Updates
a. Jobs Pursued in financial year ended 31 March 2020 and status update on jobs secured
b. Additional jobs secured in financial year ended 31 March 2020 c. Balance Order Book
4.2 On-going Jobs as at 31 August 2020
a. Privatization of Lebuhraya Persisiran Pantai Barat (WCE) b. Damansara-Shah Alam Elevated Expressway (DASH) and Sungai Besi-Ulu Klang
Elevated Expressway (SUKE) c. Flood Irrigation – Sg. Tok Jiring, Terengganu d. 1PRIMA Housing, Cherating, Pahang e. Pasar Payang Complex, Kuala Terengganu f. East Klang Valley Expressway (EKVE) g. Riverfront Residences, Hougang, Singapore h. T250 Track work Thompson MRT Line, Singapore i. T250A Track work Thompson Line, Singapore j. Prefabricated Prefinished Volumetric Construction (PPVC) for Public Housing
Development at Sengkang, Singapore
4.3 Potential Jobs Pursued in financial year ending 31 March 2021 including: a. Commercial Development Seberang Prai, Penang b. LRT3, Selangor c. Kinrara-Damansara Highway, Selangor d. Malacca International Cruise Terminal, Melaka e. Pasir Akar Housing, Besut, Terengganu f. Solar Project at Merchang, Terengganu g. Terengganu Bypass, Terengganu h. East Coast Rail Link (ECRL), Terengganu i. Mixed Development, Temerloh, Pahang j. Purifier Building, Singapore, Singapore k. Cross Island (5 Packages), Singapore
MTD ACPI ENGINEERING BERHAD Summary of Key Matters Discussed at the Twenty-Seventh Annual General Meeting held on 30 September 2020 Page 4/7
5. Impact of Movement Control Oder implemented by the Government and Mitigation
There being no question raised after the presentation, Dato’ Chairman thanked Mr. Tee and informed that the Minority Shareholder Watchdog Group did not raise any question or issue any letter to the Company in relation to the 2020 Annual Report of the Company. Dato’ Chairman conveyed that the Board and Management recommended the shareholders/proxies to vote in favour of all the nine (9) ordinary resolutions to be tabled, and then proceeded with the business on the agenda to be transacted at the Meeting.
6.0 AUDITED FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2020 TOGETHER WITH THE REPORTS OF THE DIRECTORS AND AUDITORS THEREON
The Company’s Audited Financial Statements for the financial year ended 31 March 2020 together with the Reports of the Directors and Auditors were tabled to the Meeting pursuant to the provision of Section 340(1) of the Companies Act 2016. Dato’ Chairman highlighted that the Company’s Audited Financial Statements for the financial year ended 31 March 2020 together with the Reports of the Directors and Auditors would not be put for voting as it was meant for discussion and the approval of the shareholders was not required. Dato’ Chairman then invited questions from the floor on the Audited Financial Statements for the financial year ended 31 March 2020 together with the Reports of the Directors and Auditor.
There being no question raised, Dato’ Chairman declared: “That the Audited Financial Statements for the financial year ended 31 March 2020 together with the Reports of the Directors and Auditors thereon be and are hereby received.” Dato’ Chairman adjourned the Meeting at 10.16 a.m. for e-polling.
7.0 POLL RESULTS
The polling results of the AGM were as follows:
Resolution Vote For Vote Against Result
No. of Shares % No. of Shares %
Ordinary Business
Ordinary Resolution 1 To approve the payment of Directors’ fees and allowance of up to an aggregate amount of RM300,000 payable for the period from 1 October 2020 until the next AGM of the Company to be held in 2021.
156,783,609 100.0000 0 0 CARRIED
MTD ACPI ENGINEERING BERHAD Summary of Key Matters Discussed at the Twenty-Seventh Annual General Meeting held on 30 September 2020 Page 5/7
Resolution Vote For Vote Against Result
No. of Shares % No. of Shares %
Ordinary Resolution 2 To re-elect Keith George Cowling who retires by rotation in accordance with Article 86 of the Constitution of the Company.
156,783,609 100.0000 0 0 CARRIED
Ordinary Resolution 3 To re-elect Dato' Ir. Wan Razali bin Wan Muda who retires by rotation in accordance with Article 86 of the Constitution of the Company.
156,783,609 100.0000 0 0 CARRIED
Ordinary Resolution 4 To re-appoint Messrs. BDO PLT as Auditors of the Company until the conclusion of the next AGM and to authorise the Directors to fix their remuneration.
156,783,609 100.0000 0 0 CARRIED
Special Business
Ordinary Resolution 5 To retain Nik Din bin Nik Sulaiman as an Independent Non-Executive Director of the Company.
156,783,609 100.0000 0 0 CARRIED
Ordinary Resolution 6 To retain Dato’ Ir. Kalid bin Alias as an Independent Non-Executive Director of the Company.
Tier-1 88,000,000 100.0000 0 0 CARRIED
Tier-2
68,783,609 100.0000 0 0 CARRIED
Ordinary Resolution 7 Authority to Issue and Allot Shares Pursuant to Sections 75 and 76 of the Companies Act 2016.
156,783,609 100.0000 0 0 CARRIED
Ordinary Resolution 8 Proposed Renewal of Shareholders’ Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature.
218,200 100.0000 0 0 CARRIED
Ordinary Resolution 9 Proposed Shareholders’ Mandate for Additional Recurrent Related Party Transactions of a Revenue or Trading Nature.
218,200 100.0000 0 0 CARRIED
MTD ACPI ENGINEERING BERHAD Summary of Key Matters Discussed at the Twenty-Seventh Annual General Meeting held on 30 September 2020 Page 6/7
8.0 QUESTIONS AND ANSWERS
At this juncture, Encik Anuar bin Abdul (“Encik Anuar”) (shareholder) introduced himself as a former employee of MTD ACPI, and disclosed as follows: (a) He had refinanced his housing loan to pay for MTD ACPI shares entitled under the
employees’ share option scheme (“ESOS”) in 2008 at RM2.60 per share, as he was confident that the investment would generate profit considering that the Company’s business was good at that time. Now, the share price is only 24 sen for each MTD ACPI share.
(b) At that time, the Company’s business was good and there were challenges in increasing production at the Batang Kali and Seremban factory to meet delivery of the orders received.
(c) The Company had not paid dividend for many years and the previous dividend received were of minimal amount. He hoped the Company could improve its performance, to generate profits and returns to its shareholders in the near future, to let shareholders have more confidence in MTD ACPI.
(d) He sought explanation and measures to be undertaken by the Company in addressing the
following concerns:
(i) The reason the Company continued to be in loss position for the past years; (ii) Why MTD ACPI shares has been trading at very low price; (iii) Why the Company has not paid dividend over the past years; and (iv) Whether he could get returns for his investment considering he had lost money
investing in MTD ACPI shares. Dato’ Chairman advised that the Board shared the pain of shareholders. The Board and Management are putting a lot of effort into ensuring continuous profitability for the Group however, could not give assurance to shareholder that the Group will be in profitable position in the next financial year, due to various challenges which had impacted the Company’s financial performance.
Upon invitation by Dato’ Chairman, Mr. Tee provided the following information / explanation as requested by Encik Anuar:
(a) The Manufacturing Division reported losses due mainly to the slower take-up of finished
products by key customers arising from the slower progress on their project sites. This has taken up storage space at the factories and has affected production scheduling. Coupled with the escalation in raw materials cost, labour and operating overheads, these have impacted the bottom line significantly.
(b) To address the escalation in raw material costs, labour and operating overheads the Management continuously look at ways to improve productivity and efficiency and have taken cost containment measures. Manufacturing Division had downsized its operations to three (3) factories. MTD ACPI has disposed of its factories, as part of MTD ACPI group wide rationalization exercise, to facilitate repayment of bank borrowing and for working capital purposes. With existing three (3) factories, the production capacity has been reduced.
MTD ACPI ENGINEERING BERHAD Summary of Key Matters Discussed at the Twenty-Seventh Annual General Meeting held on 30 September 2020 Page 7/7
(c) The Batang Kali factory that was erected on the 49 acre land was mainly for the production of Segmental Box Girder (SBG). Manufacturing Division has not had any SBG orders for some time. The capacity at the existing three (3) factories are sufficient to produce and meet the orders received from clients. Nevertheless, the Management would explore the opportunities available, including realizing the value of the investment in the land.
(d) The construction industry is highly competitive and margins are being squeezed. Construction Division do not have a large job order book and our main focus has been to get new jobs to replenish the order book. The Company’s Construction Division is a civil engineering and construction company and jobs are mainly government infrastructure projects. The Construction Division continues to pursue as many tenders as possible.
(e) Some of the Group’s losses are attributed to Company’s overseas ventures. There are many challenges for the Group to expand its business organically. The Board has also looked into mergers and acquisition (M&A) as another strategy to turnaround the Group’s financial position.
(f) In July 2019, the Company entered into a Heads of Terms Agreement (“HOT”) for the proposed acquisition of a construction company from Putrajaya Perdana Berhad and a property development company from Putra Perdana Development Sdn Bhd. The proposed acquisitions were intended to improve its earnings and financial performance and strengthen its balance sheet. The HOT was extended for a further six (6) months in October 2019. In February 2020, the parties signed a Termination Agreement and the proposed acquisitions exercise were aborted.
There being no further queries, Dato’ Chairman thanked Encik Anuar for raising his concerns and advised that the current market scenario is unlike those days. The Company’s performance was badly affected by the challenging market environment, difficulty to secure projects due to stiff competition in the market and low delivery due to slow progress at project sites of clients. The Board and Management are trying their very best to improve the performance of the Company for financial year ending 2021.
9.0 CLOSE OF MEETING
Dato’ Chairman then declared the 27th AGM of the Company closed. On behalf of the Board and Management of the Company, Dato’ Chairman thanked all members for their attendance. The Chairman also took the opportunity to thank everyone, Board members and Management team for their continued support and contribution to the Company.
On behalf of the Board and Management of the Company, Dato’ Chairman apologized to the members for not being able to provide refreshment at the Meeting as a preventive measure to curb the spread of Covid-19 virus and wished everyone to stay safe and healthy. There being no other business to be transacted, the Meeting concluded at 10.57 a.m. with a vote of thanks to Dato’ Chairman.
Annexure I
Corporate Information
• Financial Highlights • Financial Highlights by Division
Financial Highlights
Project Updates• Projects Pursued in FYE 2020• Status Update• Balance Order Book
On-going Projects 2020Potential Projects Pursued in FYE 2021
Civil Engineering & Construction
• Key Senior Management Job Updates•Jobs Pursued in FYE 2020•Status Update•Additional order secured in FYE 2020•Balance Order book
On-going Jobs 2020Potential Jobs Pursued in FYE 2021
Manufacturing01
02
03
04
Impact of MCO and Mitigations05
CORPORATE INFORMATION
KEY SENIOR MANAGEMENT
TEE KIM SIEWChief Executive Officer
AHMAD TARMIZI ISMAIL
General Manager, Head,
Construction Division
General Manager,
Business Development
MAHADZIR HASSAN @ MD. HASSAN
Assistant General Manager,
Head, Manufacturing Division
VIJAYARAJ A/L GOVINDARAJOOAZIAH MUSTAPA
General Manager, Head,
Finance & Treasury Division
FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS
2020 2019
REVENUE RM226.31 Mil RM249.82 Mil
PRE-TAX (LOSS) (RM20.31) Mil (RM1.38) Mil
LOSS PER SHARE (9.0) sen (2.0) sen
NET ASSETS PER SHARE
RM0.34 RM0.40
SHAREHOLDERS’FUND
RM65.28 Mil RM78.34 Mil
Lower Revenue:
• Slower progress in the KVMRT208 projects (two
stations)
• Rescheduling of product deliveries due to slower site
progress in the SUKE and DASH projects
• Late project commencements
Pre-tax loss
• Lower profit contribution from construction
(KVMRT208 project and Residensi 7, Taman Sutera,
Kajang)
• Lower revenue and higher production cost and
overheads in manufacturing
• Adjustment made on an amount due from
subcontractor on a completed project
FYE 2020FYE 2019
CivilEngineering &Construction
ManufacturingCivil
Engineering &Construction
Manufacturing
Revenue 187.3 62.5 172.4 53.9
Profit/ (Loss) 15.4 -26.9 6.4 -6.9
-50
0
50
100
150
200
RM
MIL
LIO
N
RM MILLION
Civil Engineering & Construction Division
• Lower revenue and lower profit due to slower
construction progress (KVMRT208 and building projects
in Taman Sutera, Kajang)
• The higher profit in 2019 includes final profit recognition
from completed projects (KVMRT V7, Putra Terminal Car
Park projects and fourth lane widening)
FINANCIAL HIGHLIGHTS BY DIVISIONS
• Lower revenue recognition from SUKE, DASH & WCE
(prestressed beam) and MRT Thomson Line, Singapore
(cable trough & walkway components)
• Late project commencements (EKVE, PRIMA
Cherating, Thompson Line T250A, Singapore)
• Improvement in YOY loss due to better cost
containment and lower MFRS 9 adjustments
Manufacturing Division
PROJECT UPDATES BY
CIVIL ENGINEERING & CONSTRUCTION
East Coast EconomicRegion (ECER)Package 3B & 3CGua Musang, KelantanRM200 million
East Coast Rail Link (ECRL)
Pahang – Terengganu
RM300 million
Central Spine Road (CSR)Package 4C & 4D- Kg Relong – Raub, Pahang- RM420 million
Upgrading of Sultan Ahmad
Shah Bridge Temerloh,
Pahang
RM150 million
LPT2 – Pavement RehabilitationKM413 –KM417 Ajil, TerengganuRM9 million
Sabah Pan Borneo HighwaySindumin – Tawau (2 packages)RM900 million
Chuping Valley Industrial Area(CVIA), Perlis under NCIA*RM184 million
Kedah Rubber City (KRC),Padang Terap, Kedahunder NCIARM128 million
BORNEO
PAN
SASBT
ECRL
LPT2
CVIA
KRC
ECER
CSR
* NCIA : Northern Corridor Implementation Authority
PROJECTS PURSUED IN FYE 2020
TOTAL : RM2.30 Billion
East Coast EconomicRegion (ECER)Package 3B & 3CGua Musang, KelantanRM200 millionUnsuccessful
East Coast Rail Link (ECRL)Pahang – TerengganuRM300 millionDeferred
Central Spine Road (CSR)Package 4C and 4D– Kg Relong – Raub, PahangRM420 millionUnsuccessful
Upgrading of Sultan AhmadShah Bridge Temerloh,PahangRM150 millionPending result
LPT2 – Pavement RehabilitationKM413 –KM417 Ajil, TerengganuRM9 millionAwarded in November 2019
Sabah Pan Borneo HighwaySindumin – Tawau (2 packages)RM900 millionDeferred to RMK12
Chuping Valley Industrial Area(CVIA), Perlis under NCIARM184 millionAwarded in June 2020
Kedah Rubber City (KRC),Padang Terap, Kedahunder NCIARM128 millionUnsuccessful
PAN
BORNEO
SASBT
ECRL
LPT2
CVIA
KRC
CSR
Deferred (RM1.20 B)Successful (RM193 M) Unsuccessful (RM748 M)Pending (RM150 M)Legend :
ECER
STATUS UPDATE
RM468 M(82%)
RM100 M(18%)
RM568 Million
Civil & Infrastructure Works Building Works
BALANCE ORDER BOOK FYE 2019 & 2020
2019 2020
RM407 Million
Civil & Infrastructure Works Building Works
RM61 M
(14.93%)
RM346 M
(85.07%)
MRT V208
KVMRT Sungai Buloh – Putrajaya Line Package V208Value : RM679 millionProgress : 60%Expected completion : July 2021
ON GOING PROJECTS 2020 ( as at 31 August 2020)
- Civil & Infrastructure
PPVC
LPT2 – Pavement Rehabilitation KM413 –KM417Ajil, TerengganuValue : RM9 million Progress : 85%Expected completion : September 2020LPT2
CVIA
Chuping Valley Industrial Area (CVIA) Perlis under NCIAValue : RM184 millionProgress : 3%Expected completion : May 2022
Total Contract Value : RM872 Million
Executed to Date : RM419 Million
Balance : RM453 Million
Earthwork in progress
• CVIA is part of Northern Corridor Economic
Region (NCER) which covers development
plan for Perlis, Kedah, Penang and Perak.
• MTDC secured a 2-year contract of RM184m
for the Chuping Valley Industrial Area (CVIA)
Phase 1 project in June 2020.
• The project will provide 50 industrial lots over
400 acres land of various sizes with
infrastructure (roads, lightings, water supply
and sewerage treatment.
CVIA PHASE 1
Residensi 7, Taman Sutera KajangSelangorValue : RM106 millionProgress : 61%Expected completion : March 2021
ON GOING PROJECTS 2020 ( as at 31 August 2020)
- Building
PPVC
TAMANSUTERA
TAMANTASIK
UTAMA
Taman Tasik Utama, Ayer Keroh, MelakaPhase 20AValue : RM15.3 millionProgress : 82%Expected completion : October 2020
Total Contract Value : RM121 Million
Executed to Date : RM 76 Million
Balance : RM 45 Million
POTENTIAL PROJECTS PURSUED IN FYE 2021
SUKE
East Coast Rail Link (ECRL)RM150 millionSubgrade Sect 4 –Package 1Tender closing date: July 2020
Pembinaan Kem 13 Briged Infantri TenteraDarat, Lahad Datu, Sabah (ESSCOM)RM598 millionTender closing date: June 2020
ESSCOM
Central Spine Road (CSR)RM150 millionPackage 4A – Kg Relong – RaubTender closing date : Oct 2020
Lebuhraya Kota Bharu – Kuala KraiRM160 millionPackage 2C & 3A Kok Lanas – Bukit TiuTender closing date: Oct 2020
Directional Ramp SDE, JohorRM100 millionTender closing date : Aug 2020
Taman Tasik Utama, Ayer Keroh, MelakaPhase 23RM19 millionTender closing date : Jan 2021
CSR
SDE
ECRL
KBKK
TTU
Civil & Infra : RM1.16 Billion
Buildings : RM 19 Million
Total : RM1.18 Billion
JOBS UPDATES BY
MANUFACTURING
Lebuhraya Sg Besi – Ulu Kelang (SUKE)Package CA2SelangorRM20 million
JOBS PURSUED IN FYE 2020
TOTAL : RM83.0 Million
LRT3SelangorRM22 million
CCL6, 850ESingaporeRM11 million
Trackwork for Bishon DepotSingaporeRM10 million
Pasir Akar Housing, BesutTerengganuRM10 million
Gemas – Johor BahruDouble TrackJohorRM10 million
DOUBLE
TRACK
PRECAST
BEAM
IBS
PRE-
STRESSED
BEAM
CABLE
TROUGH &
WALKWAY
CABLE
TROUGH &
WALKWAY
Successful (RM4 M) Unsuccessful (RM41 M)Pending (RM32 M)Legend :
STATUS UPDATE
LRT3SelangorRM22 million(Pending design finalisation by client)
CCL6, 850ESingaporeRM11 million(Unsuccessful)
Track works for Bishon DepotSingaporeRM10 million(Unsuccessful)
Pasir Akar Housing, BesutTerengganuRM10 million(Pending design finalisation by client)
Gemas – Johor BahruDouble TrackJohorRM4 millionSecured
IBS
PLINTH
PRE-
STRESSED
BEAM
PRE-
STRESSED
BEAM
TRACK
WORKSTRACK
WORKS
Lebuhraya Sg Besi – Ulu Kelang (SUKE) Package CA2SelangorRM20 million(Client decided to do own casting)
Pendang HospitalKedahRM1.25 million
Kraf InstituteRawang, SelangorRM1.01 million
Upgrading of FT005 RoadTeluk Intan, Perak(Pedestrian Bridge)RM1.70 million
ADDITIONAL ORDERS SECURED FYE 2020 - Peninsular Malaysia
TOTAL : RM18.62 Million
EKVESelangorRM3.50 million
SMK Tengku Ampuan IntanTerengganuRM1.78 million
Pengerang Deepwater Terminal Phase 3JohorRM3.5 million
PDT 3
PSC BEAM
UNIMAPPerlisRM1.88 million
IBS
Pasar Payang ComplexKuala TerengganuRM2.13 million
Penyayang ComplexKempas, JohorRM1.87 million
IBS
IBS
IBS
IBS
IBS
PSC
BEAM
PSC
BEAM
PSC
BEAM
ADDITIONAL ORDERS SECURED FYE 2020 - Singapore
TOTAL : RM34.54 Million
Project E, Choa Chu KangSingaporeRM4.6 million
SingaporeRM19 million
Thomson Line T250A
PDT 3
PSC BEAM
River Front Residence, HougangSingaporeRM 10.94 million
2D
PRECAST
COMPONENT
* PPVC
TRACKWORKS
PRECAST
COMPONENT
* PPVC : Prefabricated Prefinished Volumetric Construction
BALANCE ORDER BOOK FYE 2019 & 2020
2019 2020
RM44 M(33%)
RM62 M(46%)
RM28 M(21%)
IBS Beam & Parapet Others
IBS
(RM 44 m)
OTHERS
(RM 28 m)
RM134 Million
RM37 M(34%)
RM50 M(44%)
RM25 M(22%)
IBS Beam & Parapet Others
RM112 Million
ON GOING JOBS 2020 (as at 31 August 2020)
- Peninsular Malaysia
Flood Irrigation - Sg. Tok Jiring, TerengganuValue : RM19.8 millionExpected completion date : September 2020Completion 85%
Sungai Besi – Ulu Kelang Elevated Expressway (SUKE)Damansara-Shah Alam Elevated Expressway (DASH)Value : RM60.0 millionExpected completion date : December.2020Completion 46%
Privatization Of Lebuhraya Persisir Pantai Barat (WCE)Value : RM9.0millionExpected completion date : March. 2021Completion 45%
1PRIMA Housing, Cherating, PahangValue : RM11.0 millionExpected completion date: September 2021Completion 0.31%
East Klang Valley Expressway (EKVE)Value : RM3.5 millionExpected completion date : September 2020Completion 5%
2D MODULES
Pasar Payang Complex, Kuala TerengganuValue : RM 2.13 millionExpected completion date : September 2021Completion 5%
PRESTRESSED BEAM
BEAM, PARAPET &
MATIERE
IBS
IBS
CONCRETE SHEET PILE
PRESTRESSED BEAM
Total Contract Value : RM105.4 Million (100%)
Completed Jobs : RM 52.2 Million (49%)
Balance : RM 53.2 Million (51%)
ON GOING JOBS 2020 (Cont’d)- Peninsular Malaysia
DASH/SUKEValue : RM60.0 million (46%)Expected completion date : November 2020
Privatization of Lebuhraya Persisir Pantai Barat (WCE)Value: RM9.0million (45%)Expected completion date: March 2021
EKVE- KLORRValue : RM3.5 million (5%)Expected completion date : Sept 2020
Flood Irrigation - Sg. Tok Jiring, TerengganuValue: RM19.8 million (85%)Expected completion date: Sept 2020
PRESTRESSED BEAM
CONCRETE SHEET PILE
IBS
PRESTRESSED BEAM
BEAM, PARAPET &
MATIERE
1PRIMA Housing, Cherating, Pahang Value: RM11.0 million (31%)Expected completion date: March 2022
- Singapore
PDT 3
PSC BEAM
CABLE TROUGH & WALKWAY
T250 Track work Thomson Line, SingaporeValue: RM30.0 millionExpected completion date: October 2020Completion 98%
T250A Track work Thomson Line, SingaporeValue: RM20.0 millionExpected completion date: June 2022Completion 3.5%
PPVC MODULES
PPVC For Public Housing Development, SingaporeProject C (Sengkang)/ Project E (Choa Chu Kang)Value: RM4.5 million/ RM 4.6 millionExpected completion date: September 2020/ June 2021Completion 90% / 10%
IBS
Riverfront Residences, Hougang, SingaporeValue : RM11.0 millionExpected completion date: October 2020Completion 30%
Hill View Residence, SingaporeValue: RM 3.3 millionExpected completion date: March 2021Completion 0.5%
2D MODULES
Total Contract Value : RM73.4 Million (100%)
Completed Jobs : RM39.6 Million (54%)
Balance : RM33.8 Million (46%)
ON GOING JOBS 2020 (as at 31 August 2020)
ON GOING JOBS 2020 (Cont’d)- Singapore
PPVC for Public Housing Development at Sengkang, Singapore
Value: RM4.5 million (90%)
Expected completion date: November 2020
1. T250 Track work Thomson Line, SingaporeValue: RM30.0 million (98%)Expected completion date: Oct 2020
Riverfront Residences, Hougang, Singapore
Value: RM11.0 million (30%)
Expected completion date: Dec 2020
2. T250A Track work Thomson Line, SingaporeValue: RM20.0 million (3.5%)Expected completion date: June 2022
PPVC
MODULES
IBS
PPVC
MODULES
CABLE
TROUGH &
WALKWAY
Package T250
Package T250 A
POTENTIAL JOBS PURSUED IN FYE 2021- Peninsular Malaysia
Kinrara-Damansara HighwaySelangorRM5.0 million
Mixed Development, TemerlohPahang
RM5.0 million
Pasir Akar Housing, BesutTerengganuRM7.0 million
Malacca International Cruise TerminalMalaccaRM7.0 million
ECRLTerengganuRM10.0 million
BEAM &
PARAPET
Terengganu BypassTerengganuRM3.0 million
Solar Project at MerchangTerengganuRM5.0 million
Commercial Devp. Seberang PraiPenangRM2.2 million
LRT3SelangorRM 11.0 million
SHEET PILES
PRECAST PLINTH
BEAM
PRECAST JETTY
COMPONENTS
IBS
RCO
IBS
PRESTRESSED BEAM
Peninsular Malaysia : RM 55 Million
Singapore : RM 55 Million
Total : RM110 Million
- Singapore
PDT 3
PSC BEAM
Cross Island ( 5 Packages )SingaporeRM 50.0 million
TUNNEL
SEGMENT
Purifier Building, SingaporeSingaporeRM 5.0 million
PPVC
Peninsular Malaysia : RM 55 Million
Singapore : RM 55 Million
Total : RM110 Million
POTENTIAL JOBS PURSUED IN FYE 2021
IMPACT OF MCO AND MITIGATION
IMPACT OF MCO AND MITIGATIONS
EFFECTS OF MCO
Lockdown
Prelims & idling costs
Implementation of COVID -19 SOP
Inter state and cross border travel restriction
IMPACT ON OPERATIONS
Factory shut down for 8 weeks
Project sites shut down for 10 -
12 weeks
Rental cost of plant & machinery
Salaries
Additional costs on Health &
Safety
Lower billings
Lower collections
Lesser deliveries
MITIGATIONS
Application for EOT
Claim for delay cost
Re-programming and
optimization of work streams
Wage Subsidy Plan from SOCSO
Salaries reduction of between
10% to 30%
Costs sharing with sub-
contractors
Stringent cash flow management
Stepped up production and
deliveries
Accelerate claims for work done
Thank You
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