Faber aims for 12-15pc revenue growth

Faber Group Bhd, a leading player in the integrated facilities management (IFM) and property development sector, is targeting revenue to grow between 12 and 15 per cent this year. The group, a member of the UEM Group, recorded RM805.3 million in revenue last year, up 19.4 per cent from 2008's income of RM661.2 million.

Speaking at a briefing on Faber's 2009 fourth quarter results, managing director Adnan Mohammad said the board had set an internal target beyond the initial 12 to 15 per cent. Asked whether the higher target this year was achievable, Adnan said the prime wish of all companies was to exceed their targets and Faber was not an exception. "Our focus will still be on overseas operations as it was the major contributor to the IFM segment last year. "We will be moving according to our roadmap which is to enhance operations in United Arab Emirates (UAE) and India. "We are also looking at diversifying and expand our business into the IFM segment which is the major contributor to company revenue," Adnan said.

In the IFM segment, the group manages 12 hospitals with contracts worth RM18.6 million. "In the UAE, we manage infrastructure and residential projects with a combined contract value of RM202.1 million," he said.
In India, the company is involved in the IFM business with Apollo Hospitals. "However, we are now looking at capturing deals with seven 'Fortis' hospitals, worth RM10 million, in India by year-end. "In UAE, we are still waiting for the outcome of our tender for a low-cost residential project in Abu Dhabi," Adnan added.

In Malaysia, Faber will launch Phase 1A of Taman Desa, Phase 1A of Taman Desa and the fourth phase of Laman Rimbunan, Kepong. "The expected gross development project from these three projects is approximately RM495 million. "All these projects are focused on the middle and high-income group" he explained. -- Bernama

Standard & Poor's Recommendation: BUY

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