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KUALA LUMPUR: Construction engineering firm George Kent (M) Bhd is focused on building its construction order book and pursuing joint-venture opportunities locally and internationally.
Chairman Tan Sri Tan Kay Hock said the group will also explore business opportunities, including mergers and acquisitions of companies undertaking rail and water infrastructure projects.
“We are optimistic of the outlook for our engineering division in the coming years,” he said in the company’s annual report.
George Kent meters
Tan said the board recognised the potential threat of climate change to its businesses, especially after the unprecedented floods that had devastated many parts of the country.
“Our sustainability pipeline includes efforts to reduce our greenhouse gas emissions through the usage of renewable and sustainable climate-friendly energy resources.”,
It anticipates a challenging environment for its business sectors into the second half of the year as the Russia-Ukraine war had caused a surge in oil and raw material prices.
“With rising inflationary pressures due to high input prices, rising freight costs and the geopolitical uncertainties coupled with the implementation of the RM1,500 minimum wage weighing on our margins, we will take the necessary measures to mitigate against any potential impact on our financial position and operating result,” he said.
With global economic recovery continuing to be clouded by various downside risks, including new virus variants, persistent labour market challenges, lingering supply bottlenecks, financial stress and geopolitical uncertainties, inflation is expected to remain elevated.
George Kent products
“The company shall continue to develop its major business segments, in line with our sustainability policy focusing on automation of our processes and accelerate our adoption of digital technology.
“Key long term growth drivers for our metering division will continue to be in place, with a targeted techn)ology-led growth strategy plan,” he added.