11 January 2010

Crest to ride road less travelled.

The Edge's Financial Daily featured me on a cover story today. I told Mr Chong Jin Hun that we are now on an expansion basis - of which apart from our expertise as a building specialist, we also want to eye other areas in the industry - areas with lesser projects and competition.

I also mentioned that we are targetting about RM350million worth of properties to be launched out in FY2010 - with my Damansara Perdana and Batu Tiga projects coming along, I believe that should be rolled out this year barring any unforeseen circumstances.

Anyways, without further ado, here's the article from The Edge.

PETALING JAYA: Crest Builder Holdings Bhd is taking the road less travelled as the niche construction firm bids for some RM3 billion worth of private and public jobs in the country in the current fiscal year.

The move is deemed crucial as the company aims to secure a higher value of projects to boost annual revenue growth by at least a tenth.

Crest executive director Eric Yong Shang Ming said the builder was eyeing areas with “less projects, competition and players” such as flood mitigation and water treatment plant jobs, on top of its staple undertakings in real estate construction.

“I want to look at double-digit percentage (revenue) growth every year and we have started bidding for some of these jobs.

“We’d rather go for something that is a bit more untouched,” Yong told The Edge Financial Daily in an interview.

Crest hopes to secure some RM500 million of the RM3 billion worth of construction projects it plans to tender for. The RM500 million is two-thirds more than the builder’s previous annual target of RM300 million.

Of great interest is Crest’s potential venture into the water-concession business by virtue of its involvement in water facilities. Yong said the company would consider the idea if the price was right, and the terms and conditions fair.

As a building contractor, Crest undertakes construction projects for private property development firms. It is also involved in a wider scope of government jobs, including education facilities, offices and utilities.