August 29, 2014, 10:26 pm
Corporate Profile

The Prinsiptek Corporation Berhad ("PCB") was incorporated in year 2002 with the founding by its Managing Director, Dato' Foo Chu Jong. PCB was listed on the Second Board of Bursa Malaysia Securities Berhad ("Bursa Securities") on 10 December 2003 via the reverse takeover of L&M Corporation (M) Bhd. On 5 July 2005, PCB was transferred to the Main Market of Bursa Securities. The existing authorized share capital of PCB is RM100,000,000.00 comprising 200,000,000 ordinary shares of RM0.50 each of which 126,782,744 ordinary shares of RM0.50 each have been issued and fully paid-up.

The PCB Group has a total of 21 companies, PCB as the holding corporation and 20 subsidiary companies. The PCB Group's principal activities are mainly construction and property development.

The history of PCB Group started from one of its largest and longest established subsidiaries, Prinsiptek (M) Sdn Bhd ("PST"). PST was incorporated in 18 October 1990 with its existing authorized share capital of RM10,000,000.00 comprising 10,000,000 ordinary shares of RM1.00 each of which 10,000,000 ordinary shares of RM1.00 each have been issued and fully paid-up.

PST principally involves in building construction activities. PST is registered with Pusat Khidmat Kontraktor as a Class "A" contractor and Construction Industry Development Board as a Grade G7 contractor. These registrations allow PST to bid and undertake construction projects of unlimited value. PST is not only playing its role as the Contractor, PST has exceeded beyond the traditional limit and has diversified its business into other related fields as Turnkey Contractor, Property Developer and Trading House for Construction Raw Materials.

As at 31 December 2011, PST has undertaken and completed construction projects valued at approximately RM 1.94 billion, consisting of high-rise hotels, multi-storey car parks and staff quarters for the Genting Berhad Group and also some rehabilitation of the abandoned projects for the Selangor State Government. Besides, PST also managed to rehabilitate the biggest abandoned property development project at Serdang Perdana recently which consisted of more than 1,600 units of shops, shop apartments, medium cost apartments and low cost apartments.

PCB Group of companies have so far delivered a total of RM 148 million worth of own development property to the buyers in the area of Bangi, Sekinchan and Melaka. The Group is going to launch new development property in Selangor, Kuala Lumpur, Penang and Thailand.