Friday, June 4, 2010

Loh & Loh expects to secure 20% to 25% of RM2b govt projects

KUALA LUMPUR: Loh & Loh Corporation Bhd expects to secure 20% to 25% of the government projects it has tendered for and most of which are water-related projects.

Its chief executive officer Jason Loh said on Wednesday, June 2 the RM2 billion of jobs consists mainly of water projects in Malaysia, some of which were carried over from last year.

Loh & Loh is among the companies prequalified by the government to build the light railway transit railway extension lines in the Klang Valley.

The conmpany, which made its foray recently into property development, will launch two more gated high-end projects in the Klang Valley and expects revenue contributions from property development to "solidify" this year.

"We expect property contributions to revenue to rise to about 30% of revenue this year from 20%-25% presently," Loh said after the AGM.

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