KUALA TERENGGANU, June 20 (Bernama) -- Terengganu government-linked company, Eastern Pacific Industrial Corporation Bhd (EPIC Bhd), is exploring several high-profile projects in the bidding process.
The provider of integrated oil and gas solutions stated that this encompasses potential local and international investments for leasing its land in the Teluk Kalong industrial area.
“EPIC Bhd is optimistic about maintaining this positive trend and remains committed to executing its business strategies.
“These include several ongoing projects, particularly its Kemaman Port Expansion Project, Green Ship Recycling Facility, and facility upgrades to accommodate the growing demand, which will soon be spurred by the East Coast Rail Link network,” it said in a statement today.
EPIC Group chief executive officer Muhtar Suhaili said the strong financial performance in the financial year 2023 (FY2023) and the first five months of FY2024 highlighted strategic focus and operational excellence.
“We are committed to continuing our efforts to drive growth and deliver sustained value to our shareholders through ongoing projects and strategic investments,” he said.
EPIC Bhd today concluded its 43rd annual general meeting chaired by its director Datuk Tun Ahmad Faisal Tun Abdul Razak, and saw all resolutions approved by the attending shareholders.
The company also announced its audited financial results for FY2023 where it recorded a revenue of RM344.0 million, a slight increase from RM343.1 million in FY2022.
According to the statement, this steady revenue growth is expected to improve further this year, driven by various ongoing initiatives and projects undertaken by the group.
Earnings before interest, taxes, depreciation, and amortisation stood strong at RM81.0 million, showcasing the group’s agility and business sustainability for future growth and profitability.
A significant highlight for FY2023 was its profit after tax, which surged to RM8.9 million, more than double the RM3.9 million recorded in FY2022.
This outstanding performance was attributed to the group’s enhanced operational efficiencies and better cost management, said the statement.
EPIC Bhd’s robust performance continued into 2024 with its financial results for the first five months, January to May, exceeding its targets and outperforming the same period in the previous year.
-- BERNAMA
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