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May 2004SPK-Sentosa back in the black

3rd May, 2004, Business Times

SPK-Sentosa Corp Bhd, an investment holding company active in construction and property, returned to the black when it recorded a pre-tax profit of RM15.4 million for the financial year ended December 31 2003, against a pre-tax loss of RM1.5 million previously.

The profit turnaround was achieved on a significant jump in revenue to RM122.8 million from RM2.9 million previously.

Profits came mainly from the completed acquisition of SPK Bhd’s construction firm in July 2003, which managing director Saiful Aznir Shahabudin said was the right move by the company to forge growth for SPK-Sentosa.

SPK Construction boasts a strong RM1.2 billion order book that includes the RM200 million Jalan Duta government quarters, RM55 million Jalan Duta access road, RM480 million Hospital Temerloh and RM400 million Sabah East-West Interconnection Grid project.

Both phases – the government quarters and access road projects – were completed ahead of schedule, while Hospital Temerloh will be completed ahead of its accelerated construction programme of 30 months.

For the 2004 outlook, Saiful said, the company is well-positioned to take advantage of improving market sentiments to strengthen its client base and give shareholders a good return on their investments.

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