Fitters Diversified Berhad
Fitters Diversified Berhad
FITTERS diversification strategy is beginning to bear fruits. Realising the need
to explore new growth areas to enhance shareholders’ value, FITTERS has over the
years moderately diversify into selected new ventures and identified green
energy as the way forward for the company. Today, FITTERS is recognised as one
of the renewable energy players in the region.
FITTERS, through its subsidiary FUTURE NRG Sdn Bhd is a technology integrator
and developer of renewable and alternative waste-to-energy projects using
advanced, proprietary technologies to produce renewable and altenative energy.
FUTURE NRG focuses on the following market segments :
• Sustainable GREEN MILL
• Empty fruit bunch processing into dry long fibres and biomass
• Anaerobic digestion biogas capture of palm oil mill effluents
produces renewable energy for running of all plants and the palm oil
mill (energy self-sustaining palm oil mill)
• Biomass to renewable energy •Rural electrification, captive power
and grid-connected plants
• Waste to Energy•Plasma gasification of industrial, medical and
• Total solution for municipal solid wastes using plasma
gasification or “plasma hybrid”
• High-solids anaerobic digestion biogas capture for food and green
Transforming Setapak into a premier lifestyle destination
FITTERS, through its subsidiary ZetaPark Development Sdn Bhd is
undertaking its maiden property development project on a prime
commercial land in Setapak, beside a beautiful lake with panoramic
views of the KL city skyline; sitting atop the vibrant Festival City
Mall. SOHO and ZEN work suites are fully sold within months of soft
launching. The LOFT Serviced Residences @ ZetaPark is open for sale
SPECIALIST THEMED WORKS
FITTERS, through its subsidiary Z’ODD Design Sdn Bhd offers the full
range of design, art direction, manufacturing &installation of
themed construction for facades, show sets, theme parks, rock work
and water designs. Z’odd works with owners, design architects and
contractors to deliver quality projects on time and on budget.
Today, Z’odd is recognized by international theme park operators for
its quality finishes and successful performance for some recent
iconic projects in the region.
CONSTRUCTION & ENGINEERING
FITTERS has successfully handed over the 3-storey Festival City
Mall, a vibrant focal point of shopping, recreational, leisure,
entertainmet and dining place. Construction on the towers; atop the
airspace is ongoing; to deliver to discerning purchasers their SOHOs,
ZEN work suites and The LOFT Serviced Residences along with the
largest eco-deck in KL.
FITTERS through its engineering arm, FITTERS Engineering Services
Sdn Bhd has over 30 years of experience in the building &
construction industry providing Mechanical & Electrical services.
Services in Mechanical engineering includes fire protection
installation, air conditioning & ventilation, gas supply, water
supply & sanitary installation. Services in Electrical engineering
includes electrical power, extra low voltage installation,
uninterruptible power supply and power engineering solutions.
FITTERS, No. 1, Jalan Tembaga SD 5/2, Bandar Sri Damansara, 52200
Kuala Lumpur, Malaysia.
Tel: +603 6276 7155 Fax: +603 6275 8692
Review of performance 31 March 2012
For the 3
months ended 31 March 2012, the revenue of the Group reduced by 13.6% to
RM88.768 million from RM102.747 million and the profit before taxation
reduced by 24.5% to RM5.989 mil from RM8.259 million in the preceding
The increased in revenue were due to increase in projects obtained for
theming contract. The major contract awarded in Malaysia is the Kidzania
Kuala Lumpur project at the Curve NX Building which contributed RM9.1mil
and the Grotto Marine Life Park project in Singapore which contributed
RM2.4 mil respectively to the revenue for the current quarter. However,
the margin for both projects are lower compared to the other business in
this segment, hence, a lower profit before tax as compared to previous
For the current quarter, the reduction in revenue were due to the
completion of Festival Mall project in the third quarter of 2011.
However, the profit before tax increased for the current quarter due to
recognition of profit from KLCC Lot C project's variation order.
The reduction in both revenue and profit before tax were due to lower
yield rate of oil extraction from the palm oil extraction business.
The reduction in revenue was due to the ceasation of business activities
in the inactive subsidiaries. The profit before tax for the current
quarter was derived from the share of profit amounted RM166K from two
associated companies, KPISOFT International Pte Ltd and KPISOFT Malaysia
Sdn Bhd which were acquired in April and September 2011 respectively.
Comparatives Results with the Preceding Quarter
The reduction in profit before taxation in comparison to the
corresponding period in the preceding year was mainly due to (i) a
special order obtained in FY2011 for the sales of safety apparel and
fire equipment amount to RM4.0mil with a profit of RM1.2mil; (ii)
completion of Festival Mall project in third quarter of 2011 which
contributed a revenue of RM8.502mil and profit before tax of RM0.765 mil
in the preceding year.
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