Engtex looking into higher dividend

Top pipe maker: Engtex’s mild steel manufacturing plant in Serendah. It is a dominant pipe manufacturer catering to the water and sewerage sectors.

AFTER a few years of heavy capital investments, pipe distributor Engtex Group Bhd may utilise cash freed up from reduced capital expenditure (capex) spending on its business and possibly reward shareholders with a higher dividend.

Over the last decade, Engtex has embarked on capacity expansion and established plants in Malaysia. For this, it has been earmarking RM30mil to RM50mil every year to increase its capacity.