SUBANG JAYA:
Industrial Concrete Products Bhd (ICP) will invest RM43
million to set up a new plant to manufacture pre-tensioned
spun concrete (PSC) piles in South Johor in tandem with the
launch of the Iskandar Development Region (IDR), its chief
executive officer and managing director Mah Teck Oon
said.
“We are currently
in the process of buying the land,” he said, adding that RM8
million would be spent on buying the land and RM35 million on
machinery.
Speaking to
reporters after its AGM and EGM here yesterday, he said the
plant is expected to start production by December next
year.
“When our
proposed plant is completed, our annual rated capacity will
increase further to 1.7 million tonnes and our long-term plan
of having a factory in each region will finally be fulfilled,”
he said.
Mah added that
its export revenue would also increase tremendously from its
new plant in Johor due to the construction boom and rapid
development in Singapore.
To date,
Singapore forms its largest export market at about 12% of its
total revenue for financial year 2007 (FY07), with supplies to
Pasir Panjang Terminal, the Shell ECC Project and a number of
condominium projects.
ICP’s revenue for
FY07 ended March 31 rose 33.51% to RM612.27 million from
RM458.57 million a year earlier.
Mah said the
company, having 75% share of the local piles industry, expects
more than 20% growth in revenue for FY08 due to stronger
demand for construction products under the Ninth Malaysian
Plan (9MP).
Currently, it has
an estimated outstanding order book of RM150 million in
hand.
Currently, ICP
has 10 PSC piles production lines and eight PSC piles
factories in the country, and another one in China. For its
ready-mixed concrete business, it has four plants in Malaysia,
five in India and one in Pakistan. It also has five quarries
in Malaysia.
“We are also
allocating more than RM7 million to set up a new quarry soon,”
he said. He added that RM10 million would also be allocated
for the setting-up new batching plants for its ready-mixed
concrete businesses in India and Pakistan in the near future.
Published by the 
group of companies 
