pilecon

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Pilecon

The Star 20/3/00 - Pilecon had recently told the KLSE that it was studying seveal proposals including investing in the IT sector to complement and expand its existing business. Pilecon which is undergoing a restructuring, had been linked to integrated IT provider PDX Computers Sdn Bhd lately. Currently it is believed that Pilecon owns less than a 5% direct stake in PDX and it has an indirect 26% stake through Industronics (Itronics). PDX Computers might be awarded electronic government flagship projects."It is believed that PDX Computers has received a letter of intent for the e-government project which is said to be related to certain aspects of the billing system," the source said. PDX Computers specialises in network integration, software development and enterprise resource planning (ERP) business solutions. Its unit PDX Infoworld Sdn Bhd is a MSC-status company which is dedicated to the developmnt of software products and tools for the electronic delivery of services. PDX recently achieved a turnover of RM34mil and hoped to reach RM50mil this year. If talks of Pilecon buying over more stake go through, sources indicated that the set-up may involve foreign venture capitalists from Britain and Japan, which could boost the image and chances of getting into those foreign markets.

The Star 11/3/00 - Airport, UDA and Litrak are included whereas CSM, Farlim and Pilecon are excluded as component stocks of KLSE CI.

The Star 4/3/00 - Integrated information technology (IT) porvider PDX Computers Sdn Bhd aims to be leading regional player in both computer hardware and software within the next three years. PDX would set up offices in Singapore, Australia and China to beef up its presence in those countries, said its group MD and CEO Peter Hill. He said PDX specialises in network integration, software development and enterprise resource planning (ERP) business solutions, had already begun discussions with several Japanese software companies to provide software integration solutions. The company also planned to market its electronic bill payment system to stockbroking houses in Singapore, as well as to corporations in China. He said PDX last year achieved a turnover of RM34mil, 10% of which came from software and system businesses in China. The remaining revenues were generated from local sales of computer hardware and software systems. The group hoped to achieve a turnover of RM50mil would be spent on research and development, and to expand its oversea operation.

The Star 4/3/00 - Pilecon Engineering Bhd is in discussions with PDX Computers Sdn Bhd to provide financial support to the latter. This may result in Pilecon increasing its equity participation in PDX Computers with a view towardds assisting it to undertake information technology-related projects. PDX Computer is an associate company of Industronics Bhd, with the latter having a 26% stake in PDX. Pilecon said it currently had interest in the IT sector via its substantial investments in Industronics, whose group businesses include high-tech electronics and communications as well as IT. Through Industronics, Piliecon also has equity interests in PDX Computers which owns PDX Infoworld Sdn Bhd and PDX Biz-System Sdn Bhd.

The Star 4/3/00 - Pilecon reported a pre-tax profit before exceptional items of RM14.3mil for the financial year ended Dec 31, 1999. However, it incurred a consolidated pre-tax loss of RM13mil after taking into account the exceptional items. Industronics has announced an unaudited pre-tax profit of RM14.4mil for its financial year ended Dec 31, 1999, up sharply from RM1.98mil the year before.

The Star 3/3/00 - Pilecon Engineering Bhd is believed to be in final talks to acquire a substantial stake in a major information technology (IT) software company based in the Multi-media Super Corridor (MSC). The company's major software is geared for electronic delivery of financial services via the Internet.

Pilecon made RM14.3mil in pre-tax profit for its financial year to Dec 31, 1998. The company is proposing a rights issue to raise RM196mil.