| Protasco just declared a single tier final dividend of 5cents per share for the financial year ended 31 December 2009 bringing the total dividends to 9 cents for year 2009. Based on the current price, the dividend yield is around 9%. A good dividend yield will act as a good buffer and more importantly, putting less stress to your emotional well being if market retrace or come under pressure. |
New updates from the HCM Engineering (Protasco's main subsidiary) website below,
HCM Arabia to Complete Libya's TBW Project Ahead of Schedule (source: HCM website)
HCM Arabia (HCMA) is expected to complete its Tarhona-Ben Waled (TBW) road maintenance project ahead of schedule. It wants to hand it over to Libya’s Road and Bridges Authority (RBA) before the country’s 41st Al-Fatah Revolution Anniversary.
HCMA is wholly-owned by HCM Engineering Sdn Bhd.
In an interview, HCMA Director Dr Akram Agil said it is expected to be completed in early August 2010. The Anniversary falls on 1 September. He added that this would also put the company in a favourable position to secure a new tender to expand the 88km single carriageway to a dual carriageway.
Dr Akram’s smile has an unmistakable positive signal…
First, in respect of logistics, experience, base camp, staff, asphalt and quarry, HCMA is undoubtedly entrenched there. Second, it has the biggest fleet of machinery among the road players in Libya. Last count: 9 pavers, 1 CR 2200, 5 milling machines and 29 rollers.
The TBW project started mainly using the traditional mill and pave technique. However RBA was very pleased with a 10 km-trial using the Cold In Place Recycling (CIPR) method that they asked HCMA to subsequently do another 58 km stretch using CIPR which has now been completed.
Again it was a hit!
The client then asked HCMA to introduce CIPR at another ongoing project. Thus the upgrading of 40km of the 90km dual carriageway Tripoli Gharian (TPG) road maintenance project will be carried out using the CIPR technique. HCMA provides technical assistance for this project. Its main contractor is Libyan Malaysian Company for Road and Construction (LMCRC). The latter is 51% owned by Libya’s Real Estate Investment Company (REICO) and 49% owned by HCM Ikhtisas. TPG is scheduled to finish in March 2011.
HCMA General Manager, En Mohd Nasir Hassan said he believes that TBW Phase 2 project augurs well for HCM Engineering and the friendly relationship between Libya and Malaysia. Concurs Dr Akram, “ Libyans love Malaysia. It is a Muslim country which they have heard a lot. They like (former premier) (Tun) Dr Mahathir Mohamad. Many of them have also been to Malaysia as tourists and for medical treatments.”
Working in a foreign land is not without challenges.
Even so, En Nasir said HCMA workers have generally managed to overcome the test in Libya. He said, “Sandstorms, rain, occasional machine breakdown and language barrier are no obstacles when we approach them positively. Through mutual understanding, teamwork, ingenuity, discussions and negotiations with the parties involved amid sound relationship with the Libyans, we are proud to be associated with useful road projects for the benefits of both countries.”
Dr Akram also attributed the workers’ adaptability to the family-like working environment which has been inculcated in Libya. Said he, “ We have regular gatherings with the site people. They have access to top management.” Besides, the Malaysian workers love Libyan food and they are also prepared to learn Arabic on-the-job.
