‘No intention to place out more stock yet’

  • Johor quarantines 64 villagers after first MERS death, says report
    Johor quarantines 64 villagers after first MERS death, says report

    Malaysia has quarantined 64 people in a southern village after one of its residents become the country's first person to die of a respiratory illness that is spreading from the Middle East, local media reported today. At least 71 people have died from the so-called Middle East Respiratory Syndrome, or MERS, out of more than 200 infections in... …

  • Water theft cost us RM1.6 billion a year, says body – Bernama
    Water theft cost us RM1.6 billion a year, says body – Bernama

    Water from leaking pipes and water theft, collectively known as “non-revenue water” (NRW), accounted for major losses amounting to RM1.6 billion a year throughout the country. Association of Water and Energy Research Malaysia (Awer) president S. Piarapakaran said the loss of treated water before it reached consumers because of leaks in old... …

  • Above all, Karpal was a great father
    Above all, Karpal was a great father

    For as long as I have been aware of this thing called “politics,” I have been aware of Karpal Singh. As a boy, my image of him was often humorous, based as they were on classic Lat cartoons. A particular favourite has Mr Karpal looking gigantic in full court regalia holding aloft a coconut scrapper with one superhuman hand while pointing... …

  • Muslims not encouraged to use ‘RIP’, says National Fatwa Council
    Muslims not encouraged to use ‘RIP’, says National Fatwa Council

    Hours after the death of Karpal Singh, Muslims were told by the National Fatwa Council today they were not encouraged to use the phrase “Rest in Peace" (RIP) to a non-Muslim because the term had Christian connotations. In a statement issued on its website, www.e-fatwa.gov.my, the National Fatwa Council said Muslims could express their... …

  • Amid furore over Karpal jibe, Perkasa distances itself from Zul Noordin
    Amid furore over Karpal jibe, Perkasa distances itself from Zul Noordin

    KUALA LUMPUR, April 17 — The right wing Malay group, Perkasa, has distanced itself from Datuk Zulkifli Noordin, who had earlier tweeted that the passing of veteran DAP politician Karpal Singh was... …

  • Legacy of the 'Tiger of Jelutong' will endure

    Karpal Singh's story may have come to an abrupt end this morning, but the author of his biography says the legacy of the 'Tiger of Jelutong' will endure in Malaysia, where he was a warrior in the fight for equality and justice. New Zealand journalist Tim Donoghue first met Karpal in Penang in 1987 and spent nearly 30 years researching the biography he wrote on the fearless lawyer and advocate, titled "Karpal Singh - Tiger of Jelutong", which was published in 2013. "I've done a few things in …

KUALA LUMPUR: Gabungan AQRS Bhd has no immediate plan to do share placement to address the low liquidity of its stock, said its CEO Alvin Ng.

Currently, the company has only 9.22% of its issued share capital traded on the open market with a capitalisation value of RM394.6 million.

However, its executive director Paul Ow commented that the low liquidity “is not a cause for much concern”.

“We are still in the growing phase and the market has been generally quiet, but definitely with more business activities, we hope that people will also take more notice of our shares,” said Ow.

The company’s single largest shareholder Ng Chun Seong holds a 20.27% equity stake, followed by Shahrum Niza Yahya who holds a 14.7% stake. The CEO is also among the substantial shareholders, owning an 11.04% stake.

Gabungan’s share price has been on an upward trend of late. The stock rebounded from the low of RM1.04 last month to close at RM1.10 yesterday.

However, the counter is still trading below its IPO price of RM1.18. In fact, its share price has fallen since its debut on the Main Market last July.

Speaking at a fund managers briefing yesterday, Ng said Gabungan was looking out for merger and acquisition (M&A) partners to beef up its mechanical and engineering expertise in order to enhance its income stream.

According to him, the company  is in talks with potential partners for a M&A exercise to set up a mechanical and engineering (M&E) division by the middle of the year.

“At the moment, our M&E is subcontracted out and it makes up roughly 15% to 20% of our construction turnover, which would be in the tune of RM50 million to RM60 million, which is why we want to recapture that margin for ourselves,” he said.

Meanwhile, Ng said Gabungan is planning to launch an industrialised building systems (IBS) manufacturing project in Sabah.

IBS is a new construction technique where components are manufactured in a controlled environment and transported, positioned and assembled into construction works.

There are currently five main IBS groups in Malaysia — pre-cast concrete framing, panel and box systems, formwork systems, steel framing systems, prefabricated timber framing systems and block work systems.

Some construction projects that use the IBS technique are the Customs, Immigration and Quarantine Complex in Johor, the KL International Airport and KL Sentral.

As for its property development division, Gabungan has property projects worth RM391.1 million in its pipeline to be launched this year. However, Ng said the company’s primary focus would remain in construction.

Gabungan also has a slew of ongoing projects that have been lined up to be delivered up to 2016, including Package C1 of LDP extensions, the Ampang LRT carpark and building as well as Package V1 (Sungai Buloh to Kota Damansara stations) of the MRT project.

For its nine months ended Sept 30, Gabungan recorded a net profit of RM18.6 million on revenue of RM254.3 million.

The company has not declared any dividend so far, but Ng said Gabungan would set aside up to 25% of its earnings.

Gabungan currently has property projects that have a gross development value of RM1.4 billion, and a construction order book of RM1.2 billion. It is in a net cash position of RM27 million.


This article first appeared in The Edge Financial Daily, on February 7, 2013.

Follow @YahooMalaysia on LINE for daily news updates.

Comments on Yahoo pages are subject to our link to Comments Guidelines. You are responsible for any content that you post. Yahoo is not responsible or liable in any way for comments posted by its users. Yahoo does not in any way endorse or support comments made by its users.

  • My dad was in KL to see me, says Gobind The Malaysian Insider
    My dad was in KL to see me, says Gobind

    Bukit Gelugor MP Karpal Singh, who died in an accident early this morning, was in Kuala Lumpur to visit his son Gobind Singh Deo who was ill. A distraught Gobind said he was informed of the accident at 2.15am today, and he and his wife rushed to the scene where he saw his father's mangled car and his father's body. "My brother Ramkarpal was... …

  • Langkawi BN MP pokes fun at Karpal Singh’s remains The Malaysian Insider
    Langkawi BN MP pokes fun at Karpal Singh’s remains

    As the nation mourns the passing of a great politician, BN MP Datuk Nawawi Ahmad insulted the late Karpal Singh by posting a picture of the veteran politician's blood-smeared face as he lay in his Toyota Alphard following a tragic accident this morning. Along with the Facebook picture was a newspaper cutting on Karpal being opposed to the... …

  • ‘Huge’ Hindu, Buddhist statues against Islam, ex-judge says The Malay Mail Online
    ‘Huge’ Hindu, Buddhist statues against Islam, ex-judge says

    KUALA LUMPUR, April 16 — The “huge” statues at a Hindu temple in Batu Caves and Buddhist temple in Penang are an affront to Islam as the religion forbids idolatry, a retired Court of Appeals judge... …