AZRB ... Apr10

It will bid for contracts to build four office towers in Putrajaya worth some RM700 million to grow its income.

It will also bid for other building and infrastructure projects called by Putrajaya Holdings Sdn Bhd.

AZRB is hopeful of getting more contracts by the end of 2010. It is bidding for work in Malaysia, the Middle East and in India.

The unbilled portion of its existing order book is RM1.4 billion and this is expected to grow.

For the year to December 31 2009, AZRB posted a net profit of RM20.7 million on revenue of RM458.1 million.

Putrajaya Holdings chief Datuk Azlan Abdul Karim said it will call for tenders for the 14- and 15-storey office towers in the next five months.

Each project the group bids for is worth several hundred million ringgit.

It plans to build its base and tap the potential in the Gulf region, covering Saudi Arabia, Qatar, Bahrain, Oman, Kuwait and the United Arab Emirates.
AZRB has four existing projects in Saudi Arabia worth almost RM900 million.