The purchase of this construction machinery and equipment is in line with the Group’s plans to further expand the building construction activities and expand into the civil engineering segment focusing on the construction of roads, bridges, and highways.
Purchase of BIM system software (8.35% - 24 months)
The company has allocated RM 3.07 million for the purchase of BIM system software. BIM system software is a digital 3D modeling platform to integrate the planning, scheduling, costing, procurement, design specification, construction and facilitate operational data and information required to simulate the physical construction.
The adoption of BIM system software is expected to enhance the operational efficiency in planning and coordinating the design and build service based on the following:
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Simulations and benchmarking of construction projects and related processes can be produced promptly, therefore allowing optimization and modification of construction processes and construction design;
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Better understanding and analysis of construction projects through a more detailed and accurate visualization;
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Design of buildings can be performed faster and construction can begin earlier which will improve workflow and speed up the construction process;
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Sophisticated design and drawings which are time-consuming to produce can be fast-tracked using advanced software;
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Calculation and estimation of costs, especially those that are resulted from changes in the anticipated project design can be easily performed; and
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Scenario analysis and alternative designs can be performed to have a complete overview of the changes in estimated costs derived from changes in design and inputs.
Additionally, the application of BIM system software is expected to contribute to more efficient project management, where the collaboration between various stakeholders in the construction industry value chain facilitates the design and construction process. This can be achieved through improvement in communication among architects, clients, contractors, and other relevant parties involved in the construction projects as all relevant information including design models, estimates, and information are shared and stored from one source. Parties involved in the construction project can see the information and provide their inputs, therefore, eliminating information silos, anticipating potential conflicts in advance and necessary improvements can be made beforehand.
Upgrade software and systems (2.21% within 18 months)
The company allocated RM 0.81 million to upgrade to an integrated resource planning system to facilitate the business expansion. The integrated resource planning system will enable them to streamline the process, eliminate redundant processes through automation, centralized the data, and improve planning and reporting work.
Office expansion (0.82% within 24 months)
The company allocated RM 0.30 million for office renovation costs and the purchase of office furniture and equipment.
Working capital (25.32% within 12 months)
The company intends to allocate RM 9.30 million to be used to supplement the working capital requirements for new and existing projects such as payment to subcontractors, payment to suppliers for purchase of construction materials, and maintenance costs and purchase of consumables and spare parts for construction machinery and equipment.
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VenFx
I love that 6 lions in the picture.
Siab although looks mildly slow in 2 years time.
its share price might still cheers up when the construction theme time cooking hot.
2022-02-10 21:34