Radicare sees new contracts driving revenue growth
INTEGRATED facilities management company Radicare (M) Sdn Bhd expects revenue to grow 20-25 per cent this year, driven partly by new contracts from the United Arab Emirates (UAE), Brunei and Malaysia.
Its revenue rose 16 per cent to RM360 million last year.
Chief executive officer Mohamed Rafique Merican said the company has bid for contracts in the three countries and that the results will be known by the end of the month.
Among the projects are facility management in the United Arab Emirates through a joint venture with a local party, worth RM10 million.
The contract is for a three-year period, renewed annually, and is expected to start by the middle of this year.
Radicare is also exploring linen and laundry facilities in that market, Mohamed Rafique told reporters after the signing ceremony for the issuance of a RM150 million notes facility for Radicare in Kuala Lumpur yesterday.
On the home front, Radicare is in talks with a real estate investment trust manager to provide facility management services to the latter's commercial assets.
"We are focusing on the development of new markets and business segment," Mohamed Rafique said.
The company is also expanding its business capacity through its new laundry plants in Teluk Panglima Garang in Selangor and Gebeng in Pahang.
The new plants will increase Radicare's daily processing capability to 77 tonnes of laundry a day from 47 tonnes currently.
The plants, which are being developed at a cost of RM33 million, are scheduled for completion by July.
Through its subsidiaries, Radicare is a one-stop source for healthcare support services in clinical waste management, linen and laundry, fleet maintenance, biomedical engineering maintenance and facility engineering maintenance.
It holds concessions by the government to provide certain non-clinical support services to hospitals in Kuala Lumpur, Putrajaya, Selangor, Kelantan, Pahang and Terengganu.
Taken from News Straits Times 11/04/2008
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