Malaysian firm's profits increased by infrastructure construction

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Malaysian firm's profits increased by infrastructure construction

16 Mar 2010

Muhibbah Engineering has published its year-end profits for 2009 and has posted a pre-tax profit of around $17.6 million, with infrastructure construction playing an important role in the gain.

With profits up from $13.5 million the previous year, Bernama news agency reports the firm's crane and shipyard divisions have also performed well.

The statement to the stock exchange indicated turnover increased from $613 million in 2008 to $659 million in the last 12 months.

Founded in 1972, Muhibbah has generally established itself through marine construction and, latterly, national and international engineering construction projects.

It was also the first construction firm to achieve the International Standards Organisation 9002 certification, which it received in 1995. In 1994, Muhibbah made its first moves into foreign markets with ventures in both Australia and Germany.

More than half of the firm's future orders are in the infrastructure construction area, with the remainder divided between the crane and shipyard sides of the business.
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