Industrial
Concrete Products Bhd (ICP) hopes to penetrate the Indian
market by riding on the presence of its parent company IJM
Corporation Bhd, which has projects there.
ICP chief
executive officer and managing director Mah Teck Oon said on
Aug 8 that the company, which hopes to jump-start its
operations in India soon, was being more proactive and showed
its commitment by sending its goods and manpower there.
“We are hoping to
make some impact in India, but it does not respond fast. IJM
is in India quite substantially, which means we can tag onto
IJM’s projects in India. We hope to use one of IJM’s projects
to be our flagship project for initial penetration and gain
exposure,” Mah said.
IJM has a 67.36%
stake in ICP following a series of share placement exercises
recently. IJM saw strong potential in India given the rising
number of infrastructure projects.
Mah said Chennai
and Kolkata were ideal locations to begin its operations,
especially in the area of port development.
“We see
all these developing countries having this big need for ports
because they build these manufacturing capacities but all the
goods cannot move,” Mah told reporters after its AGM and EGM
in Petaling Jaya.
On its
manufacturing facilities, he said ICP was committing RM40
million for expanding its facilities in Malaysia to enhance
its export capabilities.
“We are counting on exports
as we see a flattening in the Malaysian market. The growth
potential comes from overseas, which will increase its
influence on our bottom line.
“We are investing
in additional facilities for export capabilities, which come
from our Lumut plant,” Mah said, adding that the third line in
Lumut was expected to come on stream by June next year.
He added that the
company was also expecting its China plant to take off by
year-end.
Mah said ICP,
which has an order book of RM87 million, was in negotiations
for a piling contract for the Jimah power plant project.
He said the
contract was estimated to be valued at less than RM60 million.
Published by the 
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