KUALA LUMPUR: Builder Mudajaya Group Bhd is looking for more new profitable projects both locally and overseas, and has set a target to add at least RM1 billion a year to its order book.

The company's excellent track record in the construction industry coupled with a strong and professional management team as well as healthy financial position gave Mudajaya a competitive advantage to secure and undertake new major projects, said Managing Director Ng Ying Loong.

"Basically, we have a few on-going jobs in hands. Currently, the total value of contracts we have secured is about RM6.4 billion," he told reporters after the company's Annual General Meeting here on June 8.

He said the company's financial performance this year would be as good as last year.

For the financial year ended Dec 31, 2009, Mudajaya recorded a total revenue of RM720 million compared with RM422 million previously while its pre-tax profit jumped to RM166 million from RM66 million.

On the company's independent power producer project in Chhattisgarh, India, Ng said the development for Phase One was on track and targeted for completion by the second half of 2011.

Phase Two commenced in February last year and was expected to finish by 2012, he added. The coal-based thermal power station will have four generating plants with a nominal capacity of 360 megawatt each.

"We intend to bid for more power plant projects in India. Ultra Mega Power Plant is one of those we would like to participate," he said. -- Bernama
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