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BUSINESS • 11/11/2024 05:22 PM

Azam Jaya To Enhance In-house Expertise For Pan Borneo Highway Projects

KUALA LUMPUR, Nov 11 (Bernama) -- Road infrastructure specialist Azam Jaya Bhd plans to reduce reliance on external contractors by handling more projects with its resources, particularly the Pan Borneo Highway project.

Its alternate director Johannes Lo said the company aims to undertake more in-house projects as part of its growth strategy.

"We are expanding our fleet of construction machinery and, most importantly, embracing advanced technologies to enhance on-site productivity, maximise efficiency, and minimise costs," he said at a press conference marking the company’s listing on the Main Market of Bursa Malaysia today.

Looking forward, Lo said Azam Jaya is actively planning to tender for additional work on the Pan Borneo Highway.

“Particularly in the Sabah area. We know phases two and three are upcoming, and we are prepared to cater for them,” he added.

Meanwhile, executive director Datuk Jessica Lo expressed confidence in the company’s potential for expansion beyond its core market in Sabah.

“We have plans, especially involving Kalimantan and Sarawak. At the moment, we are not targeting Peninsular Malaysia, as it is quite crowded with competitors.

“If good margins are available, we will certainly consider it. Moving our machinery there (Kalimantan and Sarawak) wouldn’t be overly complex,” she added.

On its Main Market debut today, Azam Jaya shares opened at one ringgit, a 22-sen premium on its initial public offering price of 78 sen, with 5.12 million shares traded.

At 5 pm, the company’s shares closed 31 sen higher at 1.09 sen, with 68.34 million shares traded.

-- BERNAMA

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