PD International, a building materials manufacturer based in Singapore, is planning a listing on the Stock Exchange of Singapore and will embark on projects worth US$ 150 million in the region over th…
PD International, a building materials manufacturer based in Singapore, is planning a listing on the Stock Exchange of Singapore and will embark on projects worth US$ 150 million in the region over the next five years. Founder and managing director Poh Ah Tee said the group is building float glass, aluminium extrusion and fabrication factories in China, Malaysia and India. PD International“s own capital investment in the projects will amount to US$ 30 million, with its partners contributing the remaining sum. The float glass factory in Shandong will require investment of US$ 60 million. PD International, which intends to hold a 25% stake in the venture, will lead a consortium of Singaporean, American and German companies to undertake the project. Mr. Poh expects construction of the plant to begin in 1996. When fully operational in two years“ time, the plant will have a capacity of 500 tons a day. The glass, is expected to rake in yearly sales of 500 million yuan (approx. US$ 60 million) with a profit of 150 million yuan (approx. US$ 18 million). The group will also start building a secondary process glass and aluminium extrusion plant in Shanghai next year at a cost of US$ 20 million. It will be the majority shareholder. Its partner, US-based Alumax, will hold the remaining stake. In Malaysia, the PD group has obtained approval to build a similar outfit. Investment is estimated at M$ 95 million (approx. US$ 37.1 million) over the next five years. And in India, it has plans to build a curtain wall fabrication plant. PD International, which is engaged principally in the specialist contracting, manufacturing and processing of curtain wall, cladding and glass products, and property management and development, has recently clinched a prestigious contract in Shanghai. It won the tender valued at US$ 15 million to install the external wall of the Shanghai Securities Exchange Building with double solar reflective glass unitised curtain walls set in silvery-white, anodised, aluminium frame. Currently the group“s order book has contracts worth some S$ 70 million (approx. US$ 49.4 million). About 30 to 35% are overseas contracts. In 1994, PD International posted profits of S$ 7.3 million (approx. US$ 5.1 million) on a turnover of S$ 73 million (approx. US$ 51.5 million). Mr. Poh is confident that the group, which has subsidiaries and associated companies in various Asian countries will continue to grow 20% a year for the next five years.