KUALA LUMPUR: Concrete Engineering Products Bhd (CEPCO), a manufacturer and distributor of pre-stressed spun concrete piles and poles, expects 2019 to be another challenging year, in view of the expected slowdown in the local construction scene.
Its managing director Leong Kway Wah told reporters after its AGM an EGM today that the group is exploring new markets like Vietnam, Bangladesh and Myanmar besides its traditional export markets, namely Indonesia, Brunei and Singapore.
Asked on its financial performance this year, Leong said the group expects the revenue derived from overseas will continue to contribute substantially to its total revenue, increasing to about 45%, from 38% last year.
At its EGM earlier, the group obtained its shareholders’ approval for its proposed two-for-three bonus issue of 29.85 million shares held by entitled shareholders.
