(SCIB), which had recently become a billion ringgit market capitalisation company, is aiming to double its size in the next 12 months.
The construction outfit, which is controlled by Datuk Mohd Karim Abdullah, (pic) is eyeing to take up bigger roles that include bidding for bigger infrastructure projects, embarking on mergers and acquisitions (M&As), as well as becoming project owners.
Karim acknowledged that while the Covid-19 pandemic posed challenges to the construction sector, he is confident SCIB would be able to achieve 20% to 30% revenue and profit growth this year compared with 2020. This will be driven by its strong order book and new technology adoption that will improve its profit margins.
At 9.05am, the FBM KLCI was was up 0.05 points to 1,643.95.
The early gainers included CN Asia Corp Bhd, KPower Bhd, Carlsberg Brewery Malaysia Bhd, Kuala Lumpur Kepong Bhd (KLK), Allianz Malaysia Bhd, Pharmaniaga Bhd, Sarawak Consolidated Industries Bhd. Ajinomoto (Malaysia) Bhd, Greatech Technology Bhd and Duopharma Biotech Bhd.
Bloomberg said Asian stocks opened mostly firmer Tuesday as U.S. equities rallied to records after President Donald Trump backed away from earlier threats and signed a coronavirus aid package.
The dollar slipped with Treasuries, it said.
Inter-Pacific Research Sdn Bhd said Malaysian equities were mostly rangebound yesterday after giving up most of its intraday gains on quick profit taking activities.