By Azanis Shahila Aman – May 25, 2022 @ 7:35pm
KUALA LUMPUR: Full-fledged integrated construction engineering company Vizione Holdings Bhd is upbeat on its outlook, backed by its healthy order book and the economic recovery.
Managing director Datuk Ng Aun Hooi said the economic recovery is gaining momentum as the nation progresses towards endemicity, which is good news for the company and the construction sector.
In tandem, Ng said the company also sees signs that more jobs are being awarded.
“The company has recently, in April 2022, secured a sizeable RM654.0 million contract for Pertubuhan Keselamatan Sosial (Perkeso) National Robotics and Cybernetics Rehabilitation Center in Perak.
“On that, we are currently preparing for the groundbreaking ceremony, which will be held soon,” he said at Vizione’s 23rd annual general meeting (AGM) today.
Ng said this latest win brings Vizione’s outstanding order book to more than RM3.0 billion, giving the company clear earnings visibility for the coming few years.
He said Vizione is now focused on the timely execution of its order book.
“We are confident in delivering all our projects as the company is supported by an experienced execution team coupled with a strong balance sheet that is in a net cash position.
“At the same time, we are not resting on our laurels as our business development team continues to pursue new opportunities,” he said.
Meanwhile, Ng said the company is mindful of the ongoing challenges such as supply chain disruptions and higher raw materials and commodity prices affecting the whole construction sector.
He said the company is proactively managing the rising raw material costs by continuously enhancing its operational efficiency and procurement process.
“Overall, the company’s outlook is positively premised upon the factors mentioned above and strives to deliver improved performance in FY22,” he added.
Vizione recorded a commendable performance for its first quarter (Q1) ended February 28, 2022.
Its revenue rose 22.0 per cent to RM77.9 million in Q1 2022 as the progress of its ongoing construction projects increased.
The company’s net profit came in at RM3.1 million in Q1 2022 versus RM1.0 a year ago, following higher operational efficiency attained, especially for its construction division.