20/1/05 - CB INDUSTRIAL Product Holding Bhd is expecting double-digitgrowth in revenue for its current year ending December 31 2005 if the palmoil industry sustains its good run.
Managing director Lim Chai Beng said CB Industrial’s overseas ventureswill continue contributing 70 per cent towards group revenue. "The bulk ofthis will come from Indonesia," he added.
For the third quarter ended September 30 2004, CB Industrial registered aprofit of RM11 million on the back of a RM136.17 million revenue.
In 2003, the group recorded a profit of RM15.2 million on a revenue ofRM150 million.
Lim said the company was hoping to secure at least 15 new contracts tobuild palm oil mills this year, about 60 per cent of which would be inIndonesia with the remaining likely to be in Africa and Papua New Guinea.
“Our current book order is valued at RM150 million and this will last usone more year,” he told reporters after the company’s extraordinarygeneral meeting in Subang Jaya yesterday.
Last year, he said, the group constructed 20 modi palm oil mills worthabout RM130 million, of which 13 have been handed over to their clients.The rest are scheduled to be completed by this year.
A modi palm oil mill is a modified mill. It is smaller in size compared tothe gigantic conventional mill, making it easier to build and manage.Technologically developed by the group itself, a modi mill’s currentcapacity ranges from 3 to 20 tonnes per hour.
Lim also said the transfer of the counter to the main board of BursaMalaysia Bhd is expected to take place in the second quarter of this year.