Reflections on Volume

Big volume without further upside equals distribution
Big volume without further downside equals accumulation

Volume tends to peak at turning points
Volume often precedes price movement
Volume is a relative study

Friday, March 12, 2010

Faber to build on its presence in India, UAE

KUALA LUMPUR: FABER GROUP BHD [] aims to expand its presence in India and the United Arab Emirates (UAE — Abu Dhabi) this year as part of its strategy to grow its overseas business segment, the company said.

"These (India and Abu Dhabi) are the countries we are targeting to grow our hospital support services business. With the experience that we have, we should be able to secure more contracts," its managing director Adnan Mohammad said.

"The hospitals will look at our performance, and over the years we have a proven track record. We have been in the UAE since 2006 and the projects were issued on a year-to-year basis. They were renewed every year," he told reporters at Faber's vendor recognition ceremony on Thursday, March 11.

The company said that India and the UAE contributed 17% (RM140 million) to its total turnover in the financial year ended Dec 31, 2009.

The company earlier announced that it aimed to grow revenue by 12%-15% in its property and integrated facilities management (IFM) segments, focusing growth mostly in the IFM business for FY2010.

Faber's IFM business comprises its bio-medical engineering maintenance, cleansing, clinical waste management, facility engineering maintenance, linen and laundry and its maintenance management information system. This segment of the business accounted for 85% of Faber's revenue in FY2009.

Faber, which is also involved in developing PROPERTIES [], said that it was scouting to buy more land in the Klang Valley.

"The decision to buy will be dependent on location and pricing. We are continuously looking for opportunities for landbank, and it also depends on what sort of products (properties) we want to launch in the future."
The company had said it would launch three more high-end residential projects in the Klang Valley this year with a total gross development value of about RM426 million.

The property division contributed 15% to its revenue in FY09.

Written by Daniel Khoo

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