GKent ... Apr10

Sources say George Kent and its consortium partners, Loh&Loh corp Bhd and Hazama Corp, are likely to bag up to RM500 million worth of jobs from the Pahang-Selangor interstate raw water transfer project.

Contracts likely to be awarded to the consortium include the water intake and pump station known as Package 3A on the Pahang side, and possibly Langat 2 related subscontracting works, which is in Selangor.

For FY2010 ended Jan 31, Geroge Kent posted a net profit of RM20 million on the back of rm125 million in revenue. For FY2009, the company posted a net profit of RM11.2 million.

It is also worth noting that the company has bid for more than RM1 billion worth of jobs, including those being offered for the inter state water project.

The company’s substantial shareholder is Tan Sri Khoo Kay Peng of MUIB, controls an 8.7% stake. The company’s chairman is Tan Sri Tan Kay Hock, who is also Johan Holdings Bhd chairman and chief executive, is among the people said to be close to Najib. They have known each other for a long time and are also golfing buddies.