Managing director Lau Nai Hoh was quoted as saying that, taking advantage of their competitive pricing, TAS has currently contracted out 12 vessels to two established yards in Guangzhou.
"We will continue to outsource the construction of vessels in view of the competitive pricing and quality work done by the contract shipyards in China,” Lau said. More than 10 vessels, including two AHS vessels, were currently being built by TAS yard, he added.
Clients from Singapore made up the bulk of TAS' customers, Lau noted, with some MYR57.7m ($17.9m) or more than 40% of the group’s revenue of MYR138m for FY2013, coming from them.
Interestingly, less than 15% or MYR18m of group revenue came from clients in Malaysia. Lau added that TAS currently had some MYR an orderbook of MYR380m which would contribute positively to its results up to financial year 2015. The group also intends to build vessels for charter.
For TAS's financial year fourth quarter ended May 31, it posted a group pre-tax profit of MYR3.3m on turnover of MYR48.4m, bringing full-year pre-tax profit to MYR16.7m on revenue of RM138m, compared with corresponding figures of MYR15.5m and MYR101m respectively in the previous financial year.
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