KUALA LUMPUR (Dec 20): CBH Engineering Holding Bhd (KL:CBHB), which is set to be listed on the ACE Market on Jan 16, is gearing up to expand its portfolio, with a focus on high-scale projects, particularly data centres.
“Having participated and completed various data centre projects, we are in a good position to improve our participation in the data centre market,” CBH executive director Issac Cheah Min Heng told reporters after launching the company's prospectus on Friday.
The mechanical and electrical engineering services provider is actively involved in data centre jobs in Kuala Lumpur, Cyberjaya and Johor. It has so far completed seven data centre projects with a total value of RM324.7 million, while four projects with a combined value of RM300 million is currently underway.
CBH is bidding for 22 new jobs with a total tender sum of RM559.7 million, and 80% of them involve data centres, said Cheah, adding the company's bidding success rate is around 20%.
Besides data centres, CBH is also involved in substations, commercial properties, industrial facilities, and high-rise residential projects.
“The data centre trend is still ongoing, at least for the next three years,” he said.
CBH now has the capacity for an average of eight projects annually, ranging in size from RM10 million to RM192 million.
“With our current capacity, I think we can go (for projects valued at) up to RM300 million. In future, after this [the listing] we expect up to RM350 million,” CBH chief financial officer Tang Wai Hoong said.
The company has an outstanding order book of RM203.7 million, which is expected to provide earnings visibility until the end of 2025.
From January to August 2024, CBH recorded a net profit of RM30.66 million, up 150.9% from RM12.22 million in the same period in 2023, while revenue jumped 126.3% to RM178.23 million from RM78.75 million.