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Digistar’s order book tops RM60mil

By Kamarul Yunus

Published: 2010/04/01

DIGISTAR Corp Bhd (0029), listed on the ACE Market of Bursa Malaysia, is talking to a UK-based firm to form a joint venture (JV) as the group plans to make inroads abroad, particularly in the broadcasting engineering business.

Its managing director Datuk Lee Wah Chong said Digistar is in the final stage of negotiations with the British company to form the JV, which will focus on business opportunities in Asia Pacific and the Middle East.

"We expect to finalise talks by this July or August. We will reveal the name of our potential partner when we ink the contract," he told reporters after Digistar's annual general meeting in Kuala Lumpur yesterday.

He said the company expects to venture into the overseas market via the joint venture by the end of this year. "Currently, our business is purely for the locals. By July or August, we will start looking at venturing overseas," he said.

He said the company sees potential in venturing into broadcasting engineering as there are not many players in the industry.A survey conducted by Digistar found that most of the broadcasting engineering players in Qatar and the United Arab Emirates are from either Europe or the US.

"Being an experienced player in Malaysia, we feel that Digistar can provide its capabilities in the Middle East. "It will be tough for us but there will be less competition for us to go into this region as there are few players in the field," he said.

On the local front, Lee said the company is bidding for some RM119 million worth of projects this year. "Of this, some RM50 million worth of jobs are from the private sector, and the remaining RM69 million are from the government," he said.

With some RM13 million cash in hand, Digistar's current order book stands at RM60 million, which will keep the company busy for the next two years.Digistar's shares were suspended from trading since last Tuesday pending the announcement and will resume trading today.

Read more: Digistar in alliance talks with UK firm

http://www.btimes.com.my/Current_News/BTIMES/

articles/dgstar/Article/index_html#ixzz0n8BRXNEP

 


  

 
 
     

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