Muhibbah Engineering Bhd ... July 09

Muhibbah Engineering Bhd is bidding for about RM3 billion in project, both locally and overseas, as it seeks to bolster its current book order of RM4 billion.

The RM3 billion projects it was eyeing were in the construction sector. It’s a mix of both local and overseas jobs. The success rate hinged on the timing and whether the project was compatible with the company expertise.

On the current order book of RM4 billion, it comprised of construction, shipyard and cranes projects for local and international markets. Of the RM4 billion, the construction order book was about RM2.6 billion and the remaining comprised of shipyard and cranes at RM820 million and RM620 million respectively.

Of Muhibbah’s income of RM381.19 million for the first quarter ended March 31, 2009, 55% was earned locally and the rest from overseas projects. Prior to the economic crisis, its order book was 60% foreign and 40% local. The percentage of jobs was around 40% from local companies and 60% international.