Friday 29 Mar 2024
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KUALA LUMPUR (Apr 23): Muhibbah Engineering (M) Bhd expects the outcome of its tender for RM1 billion worth of jobs in Petronas' Refinery and Petrochemicals Integrated Development (Rapid) to be known in the second half this year or next year.

"It will take some time. Maybe [in the] second half [this year] or next year," said Muhibbah group finance director Shirleen Lee at the sidelines of the Invest Malaysia 2015 conference today.

She did not elaborate on the scope and details of the package jobs.

Muhibbah's (fundamental: 1.1; valuation: 0.8) tender book stood at about RM4 billion, while its order book was slightly over RM2 billion as at February this year, she said.

On whether Muhibbah will tender for new jobs for Petronas' Pengerang Integrated Petroleum Complex, Lee said the firm may consider doing so on a selective basis.

"We see how it goes because we are pretty busy. We have to be selective. We can't take on every job," she said.

Lee foresees that for the next seven to 10 years, Malaysia will experience an enormous growth in infrastructure jobs whether in the oil and gas, marine or onshore segments.

She pointed out that international contractors have been seeking business opportunities in Malaysia, and thus, investors should closely watch the construction industry.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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