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CTRM EYES RM10B ORDER BOOK BY YEAR-END

New Straits Times, Biznews, Monday 25 January, 2010

Government-owned Composites Technology Research Malaysia Sdn Bhd (CTRM) hopes to have a RM10 billion order book by year end.

Its Chief Executive Officer Datuk Rosdi Mahmud said CTRM’s order book at the end of last year stood at RM8.5 billion, meeting its target set in August 2009.

“As of August 2009, it (order book) was at RM6.5 billion. During the Langkawi International Maritime and Aerospace Exhibition (LIMA), we signed another RM2 billion worth of contracts,” he told Business Times in an interview in Cyberjaya recently.

He said the company posted an unaudited net profit of RM30 million in 2009, a far better result than in the company’s past performance.

At the LIMA 2009, CTRM signed contracts worth over RM1 billion with Spirit AeroSystems (Europe) Ltd.

The contracts are a combination of new and extensions for the existing Airbus A320 and A321 contracts, while the new contracts are for the manufacturing and supply of wing composites components of Airbus A350XWB.

In addition, CTRM was also awarded with an aircraft maintenance contract for the performance of maintenance and modification support for four units of Learjet35 aircraft owned by Aerotree Defence & Services Sdn Bhd.

In terms of growth capacity, he said the company expects to complete the construction of its third factory in Batu Berendam Melaka by the end of March and starts operating the facility by June this year.

On the investment for the new facility, he said it will cost about RM35 million to construct a building and another RM50 million for other capital expenditure like in terms of providing equipments and machines.

“So in total, some RM80 million is being invested to cater for new contracts of RM5 billion to RM6 billion. These investments are for secured contracts,” he said.

He said the new facility will accommodate the production of composite components for Airbus’s and Boeing’s latest model aircrafts, namely the A350 and 787 Dreamliner.

Rosdi said the focus will also be given to CTRM’s other units, namely the production of unmanned aerial vehicle (UAV) and radome, the sphere shape structure, made up of over 100 individual composite panels used to protect the radar antenna from the damaging environmental elements.

He noted that the UAV, which is currently handled by its joint venture subsidiary, Unmanned Systems Technology Sdn Bhd (UST) is a growing business, supplying both military and civil applications of UAV to Malaysia.

Under UST budget, he said the company is targeting UAV market of between RM60 million and RM80 million this year.

As for the Radome, Rosdi said CTRM is targeting to install at least two radomes a year.

Rosdi also said CTRM is talking with Scomi Group to supply composite parts for the latter’s monorail system.

“We do not build monorails but manufacture similar composite components as for aircraft. We do the engineering and manufacture components for them. In this case, we are working closely with Scomi.” He said.

 
 
 
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