Hextar Capital to diversify into construction and project management services

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.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

Bursa Malaysia introduces API Gateway to enhance investor onboarding
Malaysia well-placed to meet increasing demands in semiconductor market - Siemens
YTL Power's AI-DC prospects remain intact
Ringgit eases as fading hopes of Fed rate cut lend support to US dollar
Bursa Malaysia succumbs to profit-taking pressure
Trading ideas: YTL Power, YTL Corp, Sime Darby Property, Malakoff, Axis REIT, KLCCP, Inari, Allianz, DRB-Hicom, BAT, Velesto, MSM
Deleum to achieve growth via partnerships and technology
Malakoff buys two RE firms for RM27mil
Karex likely to sustain strong margins
Bad bond bets forces Norinchukin to change strategy

Others Also Read