KUCHING: Bursa Malaysia listed engineered solutions provider Pansar Berhad (‘Pansar’ or the ‘Group’) has announced that its wholly-owned subsidiary, Pansar Company Sdn Bhd (Pansar Company) had accepted two letters of appointment for a project related to the development and upgrading of the proposed Pan Borneo Highway in Sarawak.
The total contract value of the projects is RM72.06 million.
One of the letters of appointment was issued by Dermaga Makmur Sdn Bhd for the supply and delivery of traffic barriers from Sg Kua Bridge to Sg Arip Bridge, while the other was issued by Hart Builders Sdn Bhd for the supply and delivery of traffic barriers from Pantu Junction to Btg Skrang.
The contract period for the first project (issued by Dermaga Makmur Sdn Bhd) is 21 months and the delivery work is expected to commence in July, while the second project (issued by Hart Builders Sdn Bhd) will last for 18 months with delivery work expected to commence in September.
“The appointment of Pansar for these new projects is testament to the company’s expertise in the building products segment, and we are optimistic for the prospects of further growth in our engineering work,” said Pansar Business Division general manager David Tai Wei.
He added that the projects were expected to contribute positively to the earnings and net assets of Pansar as it progressed during the contract period.
On the Group’s other businesses, he said, “Pansar will implement a more targeted marketing approach to capture a bigger market share in all of their segments.”
He said that his team will also ensure that its existing and new customers will be made aware of the company’s full extent of product offerings by making use of its large customer database and social media marketing.
The company said that it will continue to grow its business both organically and inorganically, in which they are regularly looking out for acquisition targets that can help to complement the current business and expand revenue streams.
The Sarawak-based company was established in 1961, and is primarily involved in marketing and distribution of building products, marine and industrial engineering, agro engineering, electrical and office automation supplies, as well as electrical and mechanical business.