A NEW beginning?The April-June 2003 quarter was a milestone in Eng Teknologi’s (RM3.52) corporate history as it brought the merged Altum Group (Singapore-based) under its wing in May. During the quarter, Eng recognised a RM2.6mil gain from the disposal of a subsidiary to Altum, and subsequently raised its stake in Altum to 60%.
Not yet realising potential. To recap, the merged Altum Group would be progressively shifting its operations to Thailand (under the unit acquired from Eng) to minimise costs while maximising economies of scale and margins.