KUALA TERENGGANU: Eastern Pacific Industrial Corp Bhd (EPIC), a provider of integrated oil and gas solutions, aims to increase its revenue by 10% to RM375.5mil this year, compared with RM344mil in 2023.
Group chief executive officer Muhtar Suhaili said the target is premised on operational-efficiency improvements and positive growth in several business segments.
He expressed confidence in achieving the goal following the group’s promising first quarter (1Q24) revenue of RM93mil, surpassing its projection of RM81mil.
“Based on this financial performance, we believe the group can increase its revenue to RM375.5mil and post-tax profits by RM14.5mil by year-end,” he said.
Muhtar also outlined plans to further boost the group’s revenue to RM400mil by 2025, including strategies such as infrastructure expansion and gradual enlargement of the Kemaman Port.
“We will add two cranes at Kemaman Port by 2025 and 2026 to increase the port’s capacity at the East Wharf from seven million tonnes to 12 million tonnes.
“The ongoing port expansion is expected to be fully completed by 2029, increasing capacity to 30 million tonnes a year,” he said.
The group is also in discussions to attract an investment of approximately RM850mil from a Japanese consortium in 3Q24.
The collaboration involves building a lithium-ion battery plant in the Teluk Kalong Industrial Area in Kemaman. — Bernama
