June 30, 2011

Leader sees revenue from US$107mil Cambodia project


GEORGE TOWN: Leader Universal Holdings Bhd will be able to generate partial revenue from its US$107mil build-operate-own power transmission concession project in Cambodia in the third quarter of this year.

Group managing director Datuk Sean H'ng Chun Hsiang told reporters after the company AGM that the first phase of the power transmission project between Kampong Cham and north Phnom Penh was scheduled for completion in July.

“We can then start partial billing in the third quarter of this year. The second and third phases will be completed in 2012 and 2013 respectively,” he said.

On the expiry of the power purchase agreement for the power plant in Phnom Penh by 2015, H'ng said the completion of both the coal-fired plant in Sihanoukville and the transmission project in 2013 would ensure that the group's revenue and income from its power business would not be disrupted.

“We currently have in excess of about RM800mil worth of cable and wire products to deliver to our customers. About one-third of the orders on hand come from Asia, Australasia, Middle East and Europe, while the remaining is from domestic customers,” he said.

H'ng said the group would allocate about RM30mil to upgrade its cable production facilities in Kedah and Johor.

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