Resintech Tendering For Infrastructure Projects Worth Bet RM10-RM15 Mln

01 September 2010 , By Bernama

Resintech Bhd, manufacturer of plastic pipes, water tanks and fittings, is tendering for infrastructure projects worth between RM10-RM15 million.

The company is also involved in the designing and contracting for sewerage treatment plants and fabrication of plastic roto-moulds.

Managing Director Datuk Dr Teh Kim Poo said the company, apart from bidding for pipelines projects in South East Asia, was also tendering for the second bridge in Penang, Iskandar Malaysia projects and the MMC-Gamuda railway tracking project.

"With the ongoing infrastructure works under the Federal government, we will continue to receive our share of business as we supply construction materials," Dr Teh said after the company's annual general meeting on Monday.

He added Resintech exported materials to many countries including South America, Middle East and South Africa, the biggest market being Indonesia.

The company recently diversified into direct selling of health products and fast food restaurant franchise, but Dr Teh said its core business remained intact.

"We expect the new businesses to start contributing in the financial year ending February 28, 2012," he said.

For the financial year ended Feb 28, 2010, Resintech reported a pre-tax profit of RM3.982 million.

"We hope to maintain, if not perform better, in the financial year ending Feb 28, 2011," he said.

Resintech declared an interim dividend of 1.2 sen this month and announced a two-for five bonus share issue.

"We hope to give out further dividends before the year-end depending on our financial performance," he said.

Currently, Resintech has factories in Klang, Selangor, Kuching and Kota Kinabalu.

"We are also considering setting up factories regionally when sale volume reach a certain level," he said.