Published: Wednesday February 6, 2013 MYT 12:39:00 PM
Gabungan AQRS plans M&A for mechanical and engineering unit
By Ng Bei Shan
KUALA LUMPUR: Gabungan AQRS Bhd is in talks with two or three parties for a possible merger and acquisition exercise to set up a mechanical and engineering (M&E) division by mid-2013.
Currently, M&E works contribute some 15% to 30% or RM50 mil to RM 60mil to its construction turnover.
Gabungan AQRS chief executive officer Alvin Ng Chun Kooi told reporters after a briefing with fund managers on Wednesday that margins for M&E works were higher.
"By having an in-house M&E division, we are able to save on our costs," he said.
Gabungan AQRS has a construction order book of RM1.2bil and a property development order book of RM1.44bil.