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Faber Group awarded contract in Abu Dhabi

KUALA LUMPUR: Faber Group Bhd via its subsidiary Faber LLC has been awarded a contract for the improvement, development, upgrading and maintenance of infrastructure facilities and projects at Madinah Zayed – Zone 1 in Abu Dhabi.

The contract was awarded by the Department of Municipal Affairs, Western Region Municipality, Emirates of Abu Dhabi with an estimated annual total contract price of AED154 million or approximately RM142.1 million.

In a statement on Nov 23, Faber Group’s managing director, Adnan Mohammad said the one-year contract has an annual renewal for four years.

He expects the contract to contribute positively to the earnings and net assets per share of the Faber Group for the financial year ending 2009 onwards.

“The success of securing this contract is a catalyst for our growth in the non-healthcare Integrated Facilities Management (IFM) segment, which has been our strategic focus and initiative of the last few years,” Adnan said.

Adnan added that the group aims to have a higher regional and international profile by exporting its know-how to new markets and clients as well as by promoting unique products and truly integrated services.

“There are lots of opportunities for IFM across many sectors and also across the value chain,” he said.

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