Business

Friday May 30, 2008 MYT 7:59:35 PM

MoF extends Syed Ali’s tenure as CTRM chairman

By Joseph Chin


KUALA LUMPUR: The Finance Ministry has extended the contract of Senator Datuk Wira Syed Ali Al Habshee as chairman of Composites Technology Research Malaysia Sdn Bhd.

CTRM said in a statement Friday that his contract was for another two years, effective Monday.

It said Syed Ali had agreed to continue as chairman to help drive CTRM further as one of the global player not only in the composites and aerospace industry but also in the defence and non-aerospace industry.

Syed Ali said CTRM’s revenue had grown from RM200mil in 2005 to RM237mil last year. Its profit grew from RM 17.3mil in 2006 to RM29.8mil last year.

“We targeted to achieve RM 500 million by 2010,” he said upon receiving his appointment letter from ministry yesterday.

CTRM is a major global supply chain in composites aero structures manufacturers for major aircraft for the civilian and military.

CTRM is in the supplier chain for two biggest aircraft manufacturers, Airbus and Boeing. It has RM3.35bil worth of contracts which would keep it busy until 2015.

  • E-mail this story
  • Print this story