SHAH ALAM (Feb 27): EITA Resources Bhd plans to bid for contracts under the proposed Kuala Lumpur-Singapore High-Speed Rail, besides bidding for Malaysia's Light Rail Transit Line 3 (LRT3), in order to grow the escalator manufacturer's earnings.
 
EITA group managing director Fu Wing Hoong said this during EITA's annual general meeting (AGM) here today.

"We are eyeing the high-speed rail and LRT3 projects," Fu said.

According to MyHSR Corp's website, the Kuala Lumpur-Singapore High-Speed Rail will have a speed of 300km an hour for a 90 minute journey between both locations. Malaysian Government-owned MyHSR is the project delivery vehicle for the project.

Prasarana Malaysia Bhd's website indicates the Klang Valley-based LRT3 is intended to link Bandar Utama and Klang by 2020. Malaysian Government-owned Prasarana has appointed MRCB George Kent Sdn Bhd as the project delivery partner for the LRT3.

At the AGM, Fu also said EITA plans to grow its exports across the Association of Southeast Asian Nations region, where EITA already has presence in Singapore, Indonesia and Philippines.

He said exports of EITA's own-brand products currently made up almost 20% of the group's overseas sales. He said EITA would like to see the figure grow to more than 50%.

"Although our export is on the rise, EITA is still a net importer and this affects our cost," Fu said.