KUALA LUMPUR (Dec 3): Success Transformer Corp Bhd said the change in government following the 14th general election has opened up opportunities for the group to participate in local projects. 

Executive director Tan Wei Neng told reporters after Success Transformer's annual general meeting here today that the group, which is eyeing to bid for "a few hundred million (ringgit) worth of jobs" this year, hopes to secure some of them in its current financial year ending June 30, 2019.

“We started out doing dealer business, not for the government. Before the new government, we didn’t have the chance to participate in most of the projects. But after the new government, we have the chance,” said executive director Chanelle Tan, who was also present, adding this was due to the government's push for the greater adoption of locally-made products.

Meanwhile, the group has submitted bids for both private and public jobs in the European region, totaling some US$6 million (approximately RM25.05 million). This will help boost its overseas contribution to 70% from the current 55%, in three years, Tan said.

Shares of Success Transformer were not traded so far today. The stock closed at 55 sen on Friday (Nov 30).