Loh & Loh bidding for projects worth RM2 billion

KUALA LUMPUR: Loh & Loh Corporation Bhd is bidding for RM2 billion worth of construction projects, including water-related and infrastructure ones, in the country.

Its Chief Executive Officer, Jason Loh, said the company has about RM1.5 billion worth of ongoing projects in the property and construction sectors, including a hydro-dam project in Hulu Trengganu.

"Currently, property comprises 20% to 25% of our turnover. We are aiming for a higher contribution from the property division," he told reporters after the company's annual general meeting.

Loh said the company would launch two property projects in Selayang and Bandar Sri Damansara, comprising semi-detached and bungalow houses, with a combined gross development value (GDV) of RM360 million.

The company is also looking at acquiring new land banks for property development.

"We are a conservative company. We are focusing on our projects in Malaysia and have no plans to rush into overseas projects which may drain out our resources," he said.

Loh said his company has also been shortlisted for a LRT project and "we are waiting for the tender to come out."

On the financial outlook for this year, he said, the company remained optimistic.

"We envisage to do better than last year or be comparable," he added. -- Bernama