Naim Receives LOA For RM88 Million Supply Job

Naim Cendera Holdings Berhad’s wholly-owned subsidiary, Naim Cendera Sdn Bhd recently secured a Letter of Award from the Federal Ministry of Human Resource for the supply of equipment valued at RM88 million to the Institut Latihan Perindustrian (ILP) Miri.
This was disclosed by Group Chairman Datuk Abdul Hamed Sepawi who addressed its Board of Directors’ meeting held at Wisma Naim in Kuching yesterday.

At the meeting, Datuk Abdul Hamed announced that in the first half of 2006, Naim registered a growth in revenue of 43% to RM214 million from RM149 million in the same period in 2005.

The profit before tax of RM45 million saw contributions from the construction division increased from 21% in the same period of the preceding year to 46% in the current period.

“Naim’s results were within its expectations and the group also expects its property division to contribute positively to profits in the second half of 2006” he said.

Datuk Abdul Hamed also said the group’s current order book will sustain Naim’s projected strong earnings for the next three to four years

It was also announced during the meeting that for the second consecutive year, the Naim Foundation has awarded another 10 scholarships amounting to RM100,000 to those who have passed their Sijil Tinggi Pelajaran Malaysia (STPM) with good grades and under-graduates entering their first year at the local public institutions of higher learning.

Launched in 2005 by the Naim Cendera Group, this year’s recipients among others include 5 under-graduates from the Engineering Faculty of Universiti Malaysia Sarawak (UNIMAS).

Datuk Abdul Hamed said the awarding of scholarships through the Naim Foundation was part of the Group’s community related policies of helping excellent Malaysian students to further their studies at local universities.

“The awarding of scholarships is part of our mission of contributing to the society that nurtures us and to answer the government’s call for the private sector to contribute towards quality human capital” he said.