By Pavither Sidhu
Gabungan AQRS Bhd expects to return to profit this year on the back of a solid construction orderbook of RM700 million and new contract wins in the near term after slipping into a nett loss of RM9.89 million in the last financial year ended Dec 31, 2015.
The company’s chief executive officer Datuk Azizan Jaafar hopes to grow its orderbook to RM1.5 million by end of the year.
In the property segment, the group will focus on providing affordable housing, to be announced by the second half of the year.
Azizan said it will venture into property projects through joint venture arrangements or partnerships instead of on its own.
Earning contributions from the group’s mixed development project in Sabah, One Jesselton Waterfront with Suria Capital Holdings Bhd, will commence from FY16 upon Suria Capital’s issuance of the land title to embark on the project.
Outstanding sales of RM130 million for its Permas Centro shop offices in Johor and Contours Courtyard Villas in Ulu Klang, Selangor will be realised this year while the company still has a remaining gross development value of RM660 million, including the remaining phases of The Peak luxury condominium development in Johor Bahru City Centre.
In the construction segment, the group is waiting to receive a letter of award from the Federal and Pahang State governments for the construction of a new Pahang administration complex in Kota SAS, Kuantan, worth RM422 million.
In addition, Azizan expects tenders for the Light Rail Transit 3 (LRT3) project linking Bandar Utama to Klang to be called in the third quarter of this year by Prasarana Nasional Bhd, with the winners to be announced by year end.
The company is also participating in the tenders for the construction of the Sungai Besi-Ulu Klang Elevated Expressway and the Damansara-Shah Alam Elevated Highway as well as eyeing to secure jobs in Sabah especially from the Pan Borneo Highway project via its Sabah-based 49 per cent-owned associate Sedco Precast Sdn Bhd.