UEM Edgenta eyes double-digit profit growth in FY19

Companies that provide short-term consumer loans at high interest rates are on the increase in countries like Indonesia and the Philippines as many people struggle to get advances through traditional channels such as banks.

PETALING JAYA: UEM Edgenta Bhd is targeting a double digit growth in earnings this year driven by margins improvement, operational efficiency and new jobs.

Managing director and chief executive officer Datuk Azmir Merican said the firm was also looking to expand its healthcare support services in India and bidding more jobs in Singapore.

“We want to reduce our dependency on foreign labour and invest more in machineries and innovation.

“For this year, we are also targeting to test two of our own in house products related to road maintenance,” he told reporters after the UEM Edgenta AGM here on Wednesday.

Presently, Edgenta has more than RM13bil orderbook anchored by healthcare support and infrastructure services businesses.

For its infrastructure service division, the company is maintaining 2,500 kilometres highway and state road across Malaysia and Indonesia.

Azmir said for this year, Edgenta has allocated RM80mil capital expenditure that would be mainly used to enhance its infrastructure services business.