KUALA LUMPUR, Sept 23:
Scomi Engineering Bhd is in the midst of bidding for monorail and metro-based projects in Turkey, Thailand, India and Indonesia.
“We were also bidding for monorail projects in few cities in Malaysia and they have been considered by the central and state governments,” said chief executive officer Kanesan Veluppillai today.
He also said Scomi Engineering expects its maintenance, repair and overhaul (MRO) services to provide a steady source of recurring income to further boost development in the upstream segment.
Kanesan said said MRO services would generate a sustainable and stable income for the monorail system provider. However, he said, it was too early to determine the contribution from the activities.
“We are still at the infant stage (to project the contribution). We have secured a 30-year maintenance services for Brazilian Line 18 project as well as for 40 buses with Malacca state government,” he said after the company’s annual general meeting here.
In its annual report, Scomi Engineering said it aims to expand its business activities within the coach and special-purpose vehicles sector, from manufacturing and supplying products to more downstream operations of leasing and MRO, thus providing end-to-end transport solutions.
Kanesan said the company’s current orderbook stood at RM1.4 billion, which included the Brazilian projects.
He said the company was also expected to sign contract to supply buses in Europe soon. Kanesan, however, declined to elaborate.
Scomi Engineeing returned to black with a pretax profit of RM56 million in the first quarter ended June 30, 2014 from pretax loss of RM16.41 million in the same quarter a year ago.
Its revenue declined to RM48.4 million from RM56.62 million in the same period last year.