More growth for IFM business in UAE. FY09 earnings were significantly boosted by the Integrated Facilities Management (IFM) business in UAE, especially from the “low-cost housing” and infrastructure facilities contracts which started contributing in Nov-09. With around RM110m out of the RM220m indicative annual contract value billed and recognised in FY09 accounts, work on the balance contracts should be completed in FY10. As it stands, a further RM30m has already been billed in Jan this year. We understand the “low-cost housing” contract has been extended for another year, and we expect the infrastructure facilities contract to be extended in due course.
Faber Group Berhad : More Growth From IFM Business
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