KUALA LUMPUR: Hextar Capital Bhd (HCB) plans to expand its business by venturing into construction and project management services, aiming to capture new opportunities and enhance its footprint in the construction and civil engineering sector.
In a statement, HCB said the initiative will be supported by its wholly-owned subsidiary, T&J Engineering Sdn Bhd (TJE).
On April 12, TJE was awarded a contract worth RM97mil by Landasan Kapital (M) Sdn Bhd to serve as the sub-contractor for building student hostels at Universiti Malaysia Kelantan in Bachok, Kelantan.
The scope of work includes execution of civil, structural, architectural, and mechanical works. Acceptance of the letter of award however is subject to approval from the shareholders of HCB for the proposed diversification.
Managing director Johnson Chang said the proposed diversification aligns with HCB's long-term plan to seek additional EPCC opportunities and to expand our revenue streams.
“We believe that TJE has the expertise and potential to drive this area of our business and we are excited about the prospects.
“This strategic move underscores our commitment to innovation and growth, and we are confident that it will contribute positively to our future profitability. HCB remains dedicated to delivering sustainable growth and creating value for our shareholders,” he added.
