Friday, September 30, 2011

Brem ready to weather volatile times, says MD

KUALA LUMPUR: BREM HOLDINGS BHD [] is prepared the weather the volatile global economic outlook over the next two years given its current order book of RM300 million, comprising mainly of water concession and waste management.

Its managing director Khoo Chai Kaa said the company also had projects with a gross development value of RM400 million spread out over 2012 and 2013.

Speaking after its annual general meeting on Friday, Sept 30, Khoo said the company was also exploring expanding into niche markets such as green power.

He also said that Brem was looking into further expansion overseas besides the existing water concessions in Papua New Guinea.

Khoo said Brem had incorporated a company in China, and was now waiting to see the best way to generate income.

The company recently acquired a 9.3 acre plot of land on Jalan 222, Petaling Jaya for RM48 million, for commercial development.

Khoo said Brem currently had a total landbank of 500 acreas of prime areas.

For the financial year ended March 31, 2011, Brem's net profit jumped to RM51.86 million from RM17.28 million a year earlier, on the back of revenue RM138.71 million.



No comments:

Post a Comment