Advancecon looks east for opportunities
Emmanuel Samarathisa | 12 Apr 2019 00:30
Earthworks specialist Advancecon Holdings Bhd is on a quest to create recurring revenue streams. On the cards is a mining venture in Sarawak.

“We see this (venture) as synergistic as it involves similar machines, and we have a huge (stock of) machinery, so switching from earthworks to mining is easy,” Advancecon COO Yeo An Thai tells FocusM. “I don’t see this as a problem.”

Details are scant but Yeo notes that the desire to move into mining is a natural extension of the group’s Sarawak foray this year.

“We have already formed an associate company, Advancecon Sarawak Sdn Bhd. With the efforts of our local partners, we believe we can secure more projects in Sarawak,” he says.

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Allianz announces financial results for Q1 2019

with a total RM1.21 billion recorded in the Group’s Gross Written Premiums (GWP) from January to March this year.