OIL and
gas industry engineering specialist Sumatec Resources Bhd is planning to
build a 11.5-megawatt (MW) biomass power plant in Perlis within two
years.
In April, Sumatec had acquired 80 per cent
of Perlis Biopower Sdn Bhd for RM80,000.
Perlis Biopower is involved in small renewable energy programme (SREP)
projects. It secured the SREP licence for the 11.5-MW capacity rice husk
fuel power project in Perlis.
Sumatec managing director James Chan said once in operation, the plant
will contribute a consistent income of RM20 million a year to the group.
Chan said the group is also planning to tap into industrial waste
management sector and is considering setting up a plasma waste treatment
plant in Malaysia.
¡°The focus will be on industrial waste generated by small- and
medium-sized industries,¡± he told reporters after the group¡¯s annual
shareholder meeting in Kuala Lumpur yesterday.
Chan said Sumatec hopes to generate consistent income by diversifying
into four areas mainly marine transport, oil and storage and terminal
lease, hazardous waste management and renewable energy.
Once its future core businesses are in place within the next two years,
its terminal lease and shipping divisions are expected to contribute 30
per cent and 20 per cent respectively to the group¡¯s turnover, while
engineering, procurement, construction commissioning will still be its
major contributor at 40 per cent.
Chan said the remaining 10 per cent will be generated from the group¡¯s
other activities.
He said Sumatec is also tapping into mineral resources activity soon and
has set aside for between US$20 million and US$30 million (US$1 =
RM3.80), but declined to elaborate further on the matter.
To date, its existing order book value stood at RM400 million which is
sustainable until the end of 2006.
This year, Sumatec has forecast RM260 million in turnover. Last year,
the group returned to the black, registering a net profit of RM11.5
million on the back of RM201.3 million in revenue.
Its shares closed 5 sen lower at 69 sen yesterday.
