Naim Indah profit improving KUALA LUMPUR: Naim Indah Corp Bhd expects to improve its profitability this year with further expansion into timber extraction in Kelantan and a new property development project in Kota Baru.
Financial controller Larry Liang said the company had applied to the authorities to extract timber from a 4,000ha site in Kelantan. "We already have about 2,800ha in Kelantan for timber extraction. It is the company's plan to expand its timber logging activities in the state," he told Bernama after the company's AGM yesterday. Liang said the launch of commercial shoplots in Kota Baru in the next two months would contribute positively to the company's earnings. "The gross development value of the project is about RM70mil," he said. Last year, the company entered into an agreement with Uzma Engineering Sdn Bhd to form a joint venture Nicorp Uzma JV to provide products and services to the oil and gas industry, mainly in the Middle East. "The oil and gas venture will be significant to the group's earnings only from next year," Liang said. "We strongly believe there is potential for basic commodities in Malaysia and we will focus on growing our core business of timber and property development before venturing aggressively into anything new." For the year ended Dec 31, 2005, the group's net profit fell to RM1.32mil from RM6.02mil in 2004.//Thestar 17 Jun ------------------------ Yahoo! Groups Sponsor --------------------~--> Something is new at Yahoo! Groups. Check out the enhanced email design. http://us.click.yahoo.com/SISQkA/gOaOAA/yQLSAA/ZP59lB/TM --------------------------------------------------------------------~-> Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/perakan/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
