News article - FYI
Ho Hup hopes to win more overseas jobs By Rupinder Singh rupinder@nstp.com.my December 28 2006 HO HUP Construction Co Bhd hopes to secure several construction projects in South Africa, India and Indonesia by next year, its managing director Datuk T.C. Low says. He said Ho Hup has tendered for construction-related projects in South Africa, and the results are expected to be announced in January 2007. In India, the company has tendered for infrastructure- related projects and hopes to start a mixed-development project in the state of Andra Pradesh in the third quarter of 2007. To spearhead the group's business ventures in Indonesia, Ho Hup recently incorporated an 80 per cent- owned subsidiary, PT Halford Citra. Low said Ho Hup is the exclusive distributor of Densiphalt, a composite surfacing system that is specifically beneficial to bus lanes. \"We are to provide Densiphalt to a contractor in Indonesia that has a contract to lay 100km of bus lanes in Indonesia,\" he told reporters after the company's extraordinary general meeting in Kuala Lumpur yesterday. Currently, overseas projects account for about 10 per cent of Ho Hup's bottom line. On the local front, Ho Hup is vying for projects under the Ninth Malaysia Plan as well as boosting its property development activities. The company plans to launch its medium-cost apartments in Bukit Jalil in February or March next year. It is also waiting for approval from the local authority for a 24.2ha commercial area in Bukit Jalil. Low said the company's current order book of RM450 million will keep it busy for about 30 months. For the nine months ended September 30 2006, Ho Hup recorded a net loss of RM9.3 million compared to a net profit of RM220 million in same period in 2005. Revenue in the same period fell 40 per cent to RM67.6 million.
Ho Hup hopes to win more overseas jobs By Rupinder Singh rupinder@nstp.com.my December 28 2006 HO HUP Construction Co Bhd hopes to secure several construction projects in South Africa, India and Indonesia by next year, its managing director Datuk T.C. Low says. He said Ho Hup has tendered for construction-related projects in South Africa, and the results are expected to be announced in January 2007. In India, the company has tendered for infrastructure- related projects and hopes to start a mixed-development project in the state of Andra Pradesh in the third quarter of 2007. To spearhead the group's business ventures in Indonesia, Ho Hup recently incorporated an 80 per cent- owned subsidiary, PT Halford Citra. Low said Ho Hup is the exclusive distributor of Densiphalt, a composite surfacing system that is specifically beneficial to bus lanes. \"We are to provide Densiphalt to a contractor in Indonesia that has a contract to lay 100km of bus lanes in Indonesia,\" he told reporters after the company's extraordinary general meeting in Kuala Lumpur yesterday. Currently, overseas projects account for about 10 per cent of Ho Hup's bottom line. On the local front, Ho Hup is vying for projects under the Ninth Malaysia Plan as well as boosting its property development activities. The company plans to launch its medium-cost apartments in Bukit Jalil in February or March next year. It is also waiting for approval from the local authority for a 24.2ha commercial area in Bukit Jalil. Low said the company's current order book of RM450 million will keep it busy for about 30 months. For the nine months ended September 30 2006, Ho Hup recorded a net loss of RM9.3 million compared to a net profit of RM220 million in same period in 2005. Revenue in the same period fell 40 per cent to RM67.6 million.