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26-10-2007 (source: New Straits Times)
Melati Ehsan chalks up RM27m net profit

MAIN-BOARD listed Melati Ehsan Holdings Bhd (MEHB) posted a net profit of RM27.1 million on the back of RM173.4 million revenue for the year ended August 31.


The group said the positive performance is attributed to the progressive billing of various high-valued projects the firm is involved in at the moment.

They include the Trans Eastern Kedah Interland Highway and flood mitigation project at Kawasan Bertam-Kepala Batas in Penang with a contract valued at RM287 million and RM168.8 million respectively.

In a statement, the firm said it has also recommended a first and final dividend of 7.5 sen gross per ordinary share of 50 sen each.

MEHB managing director Datuk Yap Suan Chee said the firm now has an order book of RM1.7 billion, an increase by 41 per cent since its initial public offering last March.

"More than 80 per cent of the order book is still unbilled," he said, noting that majority of the group's projects were awarded by the government.

He said MEHB is poised to be a direct beneficiary of the implementation of the Ninth Malaysia Plan and other rapid infrastructure developments initiated by the government.

It includes the Iskandar Development Region, North Corridor Economic Region and East Coast Economic Region.

The group is also gaining foothold into the private sector where recently it received a letter of intent for the construction of a new Carrefour hypermarket.

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