A unit of China Haida, CHD Engineering and Trading, has teamed with K-United Builder (KUB) to supply and install aluminium products for projects in Singapore and Malaysia. The first project is for a commercial building in Johor, Malaysia, worth S$1.68 million, that requires aluminium cladding and roof work. The project will start on August 2, 2021, and expectedly complete on December 1, 2022.
The other projects worth S$ 0.75 million are in Singapore. The projects include three terrace houses at Lorong Salleh and two semi-detached houses at Jalan Kechubong. The scope of work is to supply and install aluminium cladding products. Construction work is expected to start on May 25 this year and will be completed by September 30, 2022.
The net profit generated from these projects will be shared equally by CHD and KUB.
China Haida highlighted that its joint venture with KUB is part of the group’s strategic plans to expand its aluminium products to Singapore and Southeast Asia, in a bid to diversify its geographical concentration risk.
China Haida added: "The projects would enable the company to generate additional income sources which will aid the group in its turnaround business plans to revitalise its existing aluminium products business."
The company is optimistic that this joint venture will contribute to the group's earnings for the financial year ending on December 31, 2021.
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