KUCHING: Pansar Engineering Services Sdn Bhd, a wholly-owned subsidiary of Pansar Bhd, has been awarded the Sibu Flood Mitigation Project Phase 3 worth RM78 million by Kiasan Engineering Sdn Bhd.

A filing with Bursa Malaysia showed that the Sibu Flood Mitigation Project Phase 3 focuses on areas in Kampung Hilir and Kampung Nangka in Sibu. The Department of Irrigation and Drainage Malaysia is the owner of the project and the whole project is expected to be completed by March 2022.

Commenting on the award, Pansar managing director Datuk Jason Tai Hee (pic) said: “We are pleased to have been granted this project. With some of us born and raised in Sibu, we understand how important flood mitigation is for our hometown. This award is also a testament to our expertise in engineering work.”

Sibu, a town along the mighty Rejang River in Sarawak was known for taking the full brunt of seasonal monsoons. Since 2011, the Department of Irrigation and Drainage Malaysia has implemented Flood Mitigation Phases 1 and 2 and residents have since noticed a marked decrease in flood occurrences.

Commenting on the prospects of Pansar, Tai said, “We will continue to grow our business both organically and inorganically.  We are regularly looking out for acquisition targets that can help complement our current business and expand our revenue streams.”

He said the company will implement a more targeted marketing approach to capture a larger market share in all its segments. As such, Pansar’s team will 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 as well as increasing its brand recognition through social media marketing.

“We are also aggressively looking at and implementing ways to reduce duplication of work and hidden wastage in our operations,” he said.

It is vital that the company implements cross-branch collaborations to improve stock levels and ensure that its inventory is at optimum level. It will also continue to centralise its logistical control to improve business efficiencies, which has shown to be successful over recent years, Tai added.

Pansar Bhd is a Sarawak-based company established in 1961. It is primarily involved in marketing and its related after-market services of building products, marine and industrial engineering, agro engineering, electrical and office automation, as well as electrical and mechanical business. For the financial year ended March 31 2018, Pansar registered a total revenue of RM386.5 million and a gross profit of RM50.1 million.