Business News

Published: Wednesday February 6, 2013 MYT 12:00:00 AM
Updated: Wednesday April 17, 2013 MYT 1:37:00 AM

Gabungan AQRS plans M&A for mechanical and engineering unit

KUALA LUMPUR: Gabungan AQRS Bhd is in talks with two or three parties for a possible merger and acquisition exercise to set up a mechanical and engineering (M&E) division by mid-2013.

Currently, M&E works contribute some 15% to 30% or RM50 mil to RM 60mil to its construction turnover.

Gabungan AQRS chief executive officer Alvin Ng Chun Kooi told reporters after a briefing with fund managers on Wednesday that margins for M&E works were higher.

"By having an in-house M&E division, we are able to save on our costs," he said.

Gabungan AQRS has a construction order book of RM1.2bil and a property development order book of RM1.44bil.

Tags / Keywords: News, Business, Gabungan AQRS, mechanical and engineering (M&E) division, Gabungan AQRS chief executive officer Alvin Ng Chun Kooi, Business, Property

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