AWC: Good potential for facilities management

  • Business
  • Friday, 27 Jun 2003

BY DAVID TAN in Penang

AWC Facility Solutions Bhd, which is en route to a KLSE second board listing via the debt and corporate restructuring of Trans Capital Holding Bhd, sees good growth potential in the facilities management solutions industry. 

“Building owners and corporates are trending toward outsourcing the function of facilities management to specialists like us so that they can concentrate on their own core competencies,” group chief executive officer Harry Menon told StarBiz in Penang. 

Harry Menon

“We have the ability to provide high standard of management, economies of scale, and one-stop solutions. 

“Malaysia currently has approximately 50 million sq ft of commercial space and 110 million sq ft of office space, which indicate the potential market opportunities are tremendous,” he said. 

Menon said the group had already obtained a renewable 10-year concession to manage 29 federal common user buildings in the southern region and Sarawak. 

“Our comprehensive facilities management division is presently entrusted with the task of doing the concession job,” he added. 

Menon said the group's engineering services and automation systems division was handling several key projects, totalling more than RM30mil, in Kuala Lumpur and Singapore. 

“We are doing mechanical and engineering work for the ministry of finance headquarters in Putrajaya, and installing the building automation system for phase II of the One Utama Shopping Complex, Temerloh Hospital, and Ngee Ann Polytechnic in Singapore,” he said. 

As for the reverse takeover exercise, Menon said that on its completion AWC would have an initial market capitalisation of RM138mil and six subsidiaries. 

The group will issue 5.1 million shares for public subscription and 12 million shares for bumiputra investors and selected individuals and institutions. 

The takeover will also see AKN Capital Sdn Bhd and K Capital Sdn Bhd, which are substantially owned by AKN Capital director Datuk Ahmad Kabeer Mohamed Nagoor, having a 46.62% stake in AWC. 

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