IPO: Uzma Berhad 新股推介

申请时限 ： 30/6/2008-7/6/2008
上市日期 ： 21/7/2008
上市版面 ：第二交易版
上市价格 ：每股RM 1.90

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Uzma targets half of revenue to come from overseas

KUALA LUMPUR: Uzma Bhd is targeting 50% revenue contribution from overseas in three years as it expands its services and opens new offices abroad.
Managing director and chief executive officer Datuk Kamarul Muhamed said it planned to set up office in India and North Africa next year.
For the year ended Dec 31 (FY07), about 22% of Uzma's revenue came from overseas.
It plans to introduce new services in its existing operations in Perth, Bangkok, Jakarta and Doha, Kamarul said after Uzma's prospectus launch by Second Finance Minister Tan Sri Nor Mohamed Yakcop yesterday.
Uzma provides consultancy services under its three core businesses - geoscience and reservoir engineering, drilling, and project and operations services.
“Currently, each of our overseas operation has its own specialty. For instance, the Bangkok office focuses very much on geoscience and reservoir engineering. We want to get this office to focus on drilling services as well,” Kamarul said.
As at May 31, Uzma had RM127mil worth of contracts in hand and had tendered for RM450mil worth of projects.
In Malaysia, it has successfully completed the first chemical enhanced oil recovery (CEOR) pilot project for a major field.
“We are moving into the third phase where we are studying implementing the CEOR field-wide,” he said, adding that the field-wide implementation was expected by 2011.Uzma, which expected to list on Bursa Malaysia second board on July 31, forecasts its FY08 revenue to increase 48.6% to RM190mil gross profit to grow by 36.1% to RM37.9mil.
Meanwhile, when asked how the current political situation was affecting the market, Nor Mohamed said the market would reflect the economic fundamentals of the country.
“Despite the challenges, our economic fundamentals are good. We are a commodities producing and exporting country and that is our strength in this higher commodity prices environment.
“Coupled with the experience of managing the economy in the past crisis, I am confident we will do well,” he said.
On the budget deficit forecast under the revised Ninth Malaysia Plan, he said the Government had successfully reduced the deficit from 5.5% in 2000 to 3.2% in 2007.
The initial forecast this year was 3.1%, but with the situation now changed, the Government could revise the deficit target but this would be announced on Aug 29 when Budget 2009 was tabled, he said.

--TheStar

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