Tuesday October 10, 2006

Malpakat wants to strengthen local prescence before going abroad


JOHOR BARU: Malpakat Construction Sdn Bhd (MCSB) wants to strengthen its position in the local construction and property development sector before going overseas.

Group managing director Char Hon Loong said the company would give itself two years after listing on Bursa Malaysia to embark on the expansion programmes.

He said the company would submit its listing proposal soon and targets to be listed on the main board in the first-half of 2007.

Char said the floatation exercise was initially mooted in 1998, but had to be deferred due to the Asian financial crisis.

“The economy is improving and so is the company; the time is right for us to go public,” he said.

Char said Malpakat Holdings Bhd would be the listed entity of the group with wholly owned subsidiaries involved in the construction, infrastructure, piling, ready-mix, machinery leasing and manufacture of aluminium-based construction products.

The companies are Windsor Aims Sdn Bhd, Malpakat Readymix Sdn Bhd, Malpakat Machinery Sdn Bhd, ICT Piling Works Sdn Bhd and Malpakat Aluminium Sdn Bhd.

Char said the company had identified Indonesia, Thailand and Vietnam as countries with potential for expanding the company.

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