KUALA LUMPUR (June 11): Protasco Bhd is cautious of the uncertainties surrounding the international and local markets, and is looking to source for other business opportunities via strategic investment or joint ventures.

Protasco independent non-executive director Datuk Mohd Hanif Bin Sher Mohamed said the company is prepared to brace the expectation that the Malaysian economy is expected to grow between 4.5% and 5.5%.

“We are prepared for it, even though we are cautious in our view of uncertainties surrounding the global and domestic markets,” he said.

“With our healthy financial position, we are able to source for other business opportunities either through strategic investment or joint ventures,” he added.

In a statement today, Protasco executive vice chairman and group managing director Datuk Seri Chong Ket Pen said the company recorded a turnover of RM1.06 billion for financial year ended December 2014, a first for the company.

"Having just achieved this for the financial year 2014, we are confident to announce that Protasco is now back on track, and we are back stronger than ever,” he said.

"The year 2014 has shown terrific performance from our six divisions, in which we foresee to improve further this year,” he added.

The group’s total revenue for the first quarter ended March 31, 2015 (1QFY15) increased by 48% from RM147.8 million to RM219 million, with all six divisions showing improvements, particularly the construction and maintenance divisions.

Protasco (fundamental: 1.15; valuation: 1.2) said its De Centrum City, a 100-acre development, helped its property development division income to grow by 19% in 1QFY15 from RM21 million to RM25 million.

(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.)