New Straits Times Business – 25 June 2020
KUALA LUMPUR: Engineered solutions provider Pansar Bhd’s wholly-owned subsidiary, Pansar Company Sdn Bhd (PCSB) had accepted two (2) letters of appointment for a project related to the development and upgrading of the Pan Borneo Highway in Sarawak, Malaysia.
The total contract value of the projects are worth RM72.06 million.
One of the letters of appointment was issued by Dermaga Makmur Sdn Bhd for the supply and delivery of traffic barriers from Sg Kua Bridge to Sg Arip Bridge, while the other was issued by Hart Builders Sdn Bhd for the supply and delivery of traffic barriers from Pantu Junction to Btg Skrang.
The contract period for the first project is 21 months and the delivery work is expected to commence in July 2020, while the second project will last for 18 months with delivery work expected to commence in September 2020.
Pansar Business Division general manager David Tai Wei said the appointment of Pansar for these new projects is testament to the company’s expertise in the building products segment.
“We are optimistic for the prospects of further growth in our engineering work,” he said in a statement today.
The projects are expected to contribute positively to the earnings and net assets of Pansar as it progresses during the contract period.
On the Group’s other businesses, he said the company will implement a more targeted marketing approach to capture a bigger market share in all of their segments, adding that his team will also 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 and social media marketing.
The Sarawak-based company will continue to grow its business both organically and inorganically, in which they are regularly looking out for acquisition targets that can help to complement the current business and expand revenue streams.
Pansar is involved in marketing and distribution of building products, marine and industrial engineering, agro engineering, electrical and office automation supplies, as well as electrical and mechanical business.
Pansar said the cotract award for these new projects is testament to the company’s expertise in the building products segment.