Aneka Jaringan managing director Pang Tse Fui
KUALA LUMPUR: Aneka Jaringan Holdings Bhd
continues to monitor and assess its business risks such as volatile material prices, energy prices and labour costs.
“The group continues to assess and monitor risks while selectively tendering for projects. We have secured RM52mil in contracts in financial year ending Aug 31, 2023 (FY23) and we are also increasing capacity in Indonesia to leverage on the country’s growing infrastructure needs while monitoring developments on the new Indonesian capital of Nusantara in which we believe would present us a lot of opportunities,” managing director Pang Tse Fui said in a statement.
“Although we have seen material prices stabilised, it remains a concern along with energy and labour costs. China’s relaxation of its zero-COVID policy and the reopening of its economy may mean volatile material prices as demand grows.
“To lower labour costs, the group will be replacing its outsourced workers with newly recruited foreign workers as we have been granted a government quota of 150 workers,” he added.
The basement and foundation construction specialist’s net loss narrowed to RM4.4mil in the first quarter ended Nov 30 from RM5.6mil a year ago.
Revenue for the quarter was higher at RM52.8mil against RM41.6mil last year.
As at Oct 31, Aneka Jaringan has an order book of RM145.73mil, with Malaysian operations contributing RM138.97mil and Indonesian operations contributing RM6.76mil.
Its tender book stood at RM969.45mil as at Oct 31.
