NWP Holdings banking on construction biz to turnaround co

PETALING JAYA: Timber and timber product firm NWP Holdings Bhd is banking on its construction business to turnaround the company, which has been making losses since 2006.
NWP was recently awarded a RM744 million turnkey construction project to construct a total of 3,855 houses under the Syarikat Perumahan Negara Malaysia and Perbadanan PR1MA Malaysia.
Speaking to reporters after the company's EGM here today, executive director Datuk Seri Kee Soon Ling is hoping the construction business will help increase its income stream.
He also said the company is expected to obtain the Grade G7 contractor license from the Construction Industry Development Board (CIDB) in one to two weeks. The license would allow NWP to tender for sizeable government and private projects.
For nine months ended May 31, 2016, NWP registered a net loss of RM1.68 million versus a net profit of RM626,000 in the same period a year ago.