Press Release

Kuala Lumpur, 22 August 2016: Protasco Berhad, which won a RM315.8 million elevated highway construction project two weeks ago, announced today its pre-tax profit eased 8.8 percent to RM54.03 million for the first half ended June 30, 2016, with little change in revenue at RM523.34 million compared to the previous corresponding period.

Largely due to contributions from construction, second quarter revenue rose 27.64 percent to RM396.24 million from RM310.44 million before. Its construction revenue for the first half jumped 75 percent to RM214.50 million from RM122.74 million in the same period last year, mainly due to the Perumahan Penjawat Awam 1Malaysia (PPA1M) Phase 1 project.

Earlier this month, Protasco Berhad’s construction arm, HCM Engineering Sdn Bhd was awarded the RM315.8 million contract for the construction of the Sungei Besi-Ulu Kelang Elevated Highway (SUKE). The Group will commence works on SUKE in September 2016 and has 30 months to complete the works.

The Group’s current order book stands at RM5.32 billion which is expected to last until 2025. Aside from the SUKE project, the order book includes Phase 2 of the PPA1M project to build housing for civil servants in Putrajaya, the federal roads maintenance in Selangor, Pahang, Kelantan and Terengganu, as well as the maintenance of state roads in Perak.

Protasco is also aiming to launch Rimbawan, the next phase of its De Centrum property development project in Kajang, later this year. The villa and apartment development is expected to have RM350 million in gross development value.

“With our healthy orderbook, we expect to continue generating a solid income stream and cash flow,” said Dato’ Sri Chong Ket Pen, Executive Vice Chairman and Group Managing Director.