Seacera gets BCPLC status from Miti

KUALA LUMPUR: The International Trade and Industry Ministry (Miti) has approved Main Market-listed Seacera Group Bhd as a bumiputra-controlled public listed company (BCPLC).

Seacera, which is involved in the tiles manufacturing, property and construction businesses, said with this approval, the company and/or its units were as qualified to participate in the tender exercise of Malaysian Government projects allocated for bumiputras.

“The approval is valid for one year,” it said in a statement on Wednesday.

Group managing director Zulkarnin Ariffin said with this recognition, the company hoped to be benefit from several infrastructure projects, roads and railways that were likely to be launched this year.

“Seacera will continue to pursue viable opportunities for profitable growth and value creation and make best efforts to mitigate the current market conditions,” he said.

Meanwhile, Zulkarnin said, the company has secured a construction contract worth RM14.88mil from Turnpike Synergy Sdn Bhd, a wholly-owned unit of Projek Lintasan Kota Holdings Sdn Bhd which, in turn, is wholly owned by Permodalan Nasional Bhd.

He said the company had on Jan 12, 2016 signed a subscription-cum-shareholders agreement with Proligen Sdn Bhd to set up Malaysias first polysulfone dialyser manufacturing plant in Melaka to produce two million pieces of dialysers per annum. 

“This project is expected to generate and provide profit of at least RM75mil cumulative pre-tax profit within three years from the production commencement date,” he said. - Bernama

Seacera shares fell 1.5 sen to close at 99.5 sen on Wednesday.