StarBiz, By Daljit Dhesi – 21 May 2019
PETALING JAYA: Pansar Bhd, which is looking for more acquisitions, aims to expand its businesses organically and inorganically to bolster revenue stream.
Managing director Datuk Tai Hee said the company is regularly looking for acquisition targets that could help complement its current business and expand its earnings.
“We will implement a more targeted marketing approach to capture a larger market share in all 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,” he told StarBiz.
“We are also aggressively looking at and implementing ways to reduce duplicity and hidden wastage in our operations,” he added.
Tai said it was vital for Pansar to implement cross-branch collaborations to improve stock levels and ensure that its inventory is at opt, adding that the company would continue to centralise its logistical control to improve business efficiencies, which has shown to be successful over recent years.
The Sarawak-based company 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 revenue of RM386.5mil and a gross profit of RM50.1mil.
The company announced last Friday that its wholly-owned subsidiary Pansar Engineering Services Sdn Bhd (PES) has been awarded the Sibu Flood Mitigation Project Phase 3 that is worth RM78mil 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, Sarawak. The Department of Irrigation and Drainage is the owner of the project and the job is expected to be completed by March 2022.
Commenting on the award, Tai 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 has implemented Flood Mitigation Phases 1 & 2 and residents have since noticed a marked decrease in flood occurrences.