Inai Kiara buying more ships for RM1b

INAI Kiara Sdn Bhd, which is involved in the dredging reclamation and marine-related industry, will buy two or three more ships costing about RM1bil to cater to domestic demand.
Executive chairman Capt Gulzar Mohamad said the new ships would be more advanced and help the company acquire more contracts and strengthen its leadership position in the dredging industry.
“We plan to order new trailing suction hopper dredgers to add to the existing two units that we have,” he told reporters after the handover ceremony of a newly acquired ship witnessed by Deputy Transport Minister I, Datuk Douglas Uggah Embas in Putrajaya yesterday.
He said the availability depended on the Holland-based ship manufacturer and the company hoped to place the order by the end of this year. The company would buy the ships via internal funds and bank borrowings.

       Datuk Douglas Uggah Embas (centre) witnessing the exchanging of
       documents between Capt Gulzar Mohamad (left) and Van Oord
       director Otto Verkerke in Putrajaya - Bernamapic

Gulzar said Inai Kiara had just acquired a new heavy duty cutter suction dredger, Inai Dahlia, for RM150mil with the aim of further enhancing its capabilities in the industry.
Inai Dahlia, which has a total installed diesel power of 8,277 kilowatts, is equipped with a high-pressure dredge pump, electrically powered cutter head and inboard dredge pump.
Gulzar said Inai Kiara had received enquiries from overseas companies interested in using its services, but for now It could not cope as the local demand was rising.
“Malaysian ports are fast becoming major international hubs for all types of vessels of large capacity and it is fitting that our ports and harbours are upgraded and deepened to meet the requirements of such vessels,” he said.
Last year, Inai Kiara was awarded a 15-year concession contract from the Government to manage and maintain all the ports in the country.
“Currently, there are seven main ports and 40 mini-ports in the country. Our job includes deepening the ports, breakwater construction and beach nourishment,” said Gulzar, who declined to disclose the contract value.
However, he said the government concession contributed about 50% to the company’s turnover, which amounted to RM500mil in the financial year ended Dec 31, 2004.
Inai Kiara also has four projects for breakwater construction, reclamation, dredging and marine construction works in Bintulu, Kuching and Miri in Sarawak, and Kuala Terengganu in Terengganu.

On another note, Inai Kiara will invest RM400mil in building its own home base in Port Klang.
Gulzar said the company had bought a piece of land in Port Klang and construction work was expected to start in two months for completion in 1½ years.
He said the home basewould be used to store high-technology equipment and for operations.
Established as a private limited company in 1994, Inai Kiara has grown from a small dredging concern into a major player in the dredging, reclamation and marine related construction industry.
Among its completed projects is the phase two development of Pelabuhan Tanjung Pelepas for the construction, completion and maintenance of dredging and reclamation works.

Source:   The Star Online