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Project Highlights

East Coast Expressway Phase 1 (ECE1)
It was a year of improved performance for the division, emanating from much improved operating conditions and efficiency achieved. Contribution from MTD Construction Sdn Bhd (‘MTDC’) augurs well for the division’s prospects in the near and medium term. The division registers a combined pre-tax profit of RM25.6m, a marked improvement as compared to the previous year. This is on the back the acceleration of works at the RM1.3bn East Coast Expressway Phase 1 project (‘ECE1’).

Existing outstanding orderbook remains sanguine at RM1.0bn as at 31 March 2002. In addition to ECE1, the division maiden venture in India worth approximately RM175m went underway in the period under review. This is expected to keep the division occupied over the next two years. Efforts are underway to look for projects in the
domestic and overseas markets, which is in line with its on-going earnings diversification plans.

The division is expected to benefit immensely from the Federal Government pump priming efforts in the near and medium term. The Federal Government recent intention to resume construction of ECE2, which is a continuation of ECE1, is expected to strengthen its existing outstanding orderbook further. In addition to bidding for Federal Government funded and privatisation projects, the division is expected to
benefit from the spin-off benefits generated from its newly acquired subsidiary, Metacorp Bhd which is likely to be involved in some road upgrading works within its concession area and property development.

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