Puncak Niaga seeking state water projects

Puncak Niaga Holdings Bhd will keep pursuing growth in potable water-related projects, while seeking privatisation opportunities from the various state water authorities, according to executive chairman Tan Sri Rozali Ismail. 

“The group has pursued various water-related business opportunities in the domestic and regional markets. 

Tan Sri Rozali Ismail

“Relying on its core competencies, the group continues to actively pursue growth in potable water-related projects in the various states in Malaysia. 

“The group is also trying to secure a share of the corporatisation or privatisation opportunities arising from the various state water authorities,” Rozali said in Puncak Niaga 2002 annual report. 

According to Rozali, the company has been successful in its business forays last year, clinching several notable contracts, both internationally as well as domestically. 

“The amount of accounts receivable has remained high, despite our collection efforts. 

“There is, however, negligible risk of default and the group is engaged with our customers to resolve the issue of slow payments,” Rozali said. 

He pointed out: “While it may be a concern for shareholders, there are various opportunities inherent in staying engaged in negotiations for strategic positioning that may well yield favourable business opportunities in the process of resolving the issue.”  

Rozali said that the water supply business was resilient amid the current global economic uncertainty, because water was a basic necessity. 

“The challenge for 2003 ... is to achieve growth in the group's business amidst such uncertainty and increasing market competition,” he said. – AFX 

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