AZRB ...Nov09

Sources say it is the favourite to bag a RM310 million design and build job for Compleks Kerja Raya 2, which will be built in Jln Sultan Salahuddin, KL.

Although the letter of award has yet to be given to AZRB, industry players say it is quite likely to to AZRB. It is said some small details need to be ironed out before AZRB secures the job formally.

Be that as it may, the job will likely be a boon for AZRB. For its six months ended June 2009, the company posted a net profit of RM10.05 million on the abck of RM192 million in revenue.

Among the more prominent jobs AZRB is undertaking are Federal Road 3, which stretches from Pekan to Kuantan and has a value of RM202 million.

As at end June 2009, AZRB’s order book at about RM1.11 billion in total. The Komplexs Kerja Raya 2 job would nudge this up to R,1.4 billion.

It is said that AZRB is also likely to win a RM50 million contract for the initial works of the Hule Terengganu Hydroelectric project, which will entail clearing works and the building of roads, being negotiated with state controlled utility TNB.

As at end June 2009, the company had cash and cash deposits amounting to Rm177 million while its trade receivables stood at RM302 million. It had short term borrowings of some RM44.85 million while its long term borrowings were RM156 million. The company had trade and other payables of about RM272 million.