Pintaras - winning contract for the 118-storey Warisan Merdeka

Pintaras Jaya Bhd is commanding a market share of 10% to 15%. The other public piling companies then, like Pilecon Engineering Bhd, UCP Resources Bhd, L&M Corp Bhd, General Soil Engineering Holdings Bhd did not last long after the 1997 financial crisis.

At present (May 2014), other key piling players in the market include unlisted Geopancar Sdn Bhd, Sunway Group’s Sunway Geotechnics (M) Sdn Bhd and Econpile Holdings Bhd, which is en route to the Main Market.

Pintaras’ 30% profit margin speaks volumes on how well the company is run.

Pintaras Jaya is sitting on RM104.7mil cash, which translates to 16% of its market cap. Pintaras Jaya does not have definite plans of utilising the money but may consider a merger and acquisition for its manufacturing arm should a good deal come by.

The company has also been paying out 38% of its profit as dividend diligently.

It is bidding for works valued between RM2bil and RM3bil while its orderbook stands at RM300mil, almost double from a year ago.

Underpinned by the exuberant construction scene in Malaysia, which counts mega projects like Klang Valley Mass Rapid Transit Line 2, Kinrara Damansara Expressway, West Coast Expressway, Petroliam Nasional Bhd’s refinery and petrochemical integrated development (Rapid) in the pipeline, it is optimistic of Pintaras Jaya replenishing its orderbook.

Traditionally, a huge chunk of the piling specialist’s revenue is derived from the private sector primarily for high rise residential and commercial buildings. However, jobs from the public sector and government-linked project are beginning to contribute much more significantly to its topline, which now (May 2014) stands at 40%.


Winning the RM74mil contract to carry out foundation works for the 118-storey Warisan Merdeka marks a milestone for the company as it was involved in the construction of an iconic building.

Clinching the project means a lot to Pintaras as it proves that local piling players are able to compete with the multi-national companies. Notably, piling works for the country’s tallest building Petronas Twin Towers was awarded to Soletanche Bachy from France.

Jobs are aplenty as the trend of big construction players taking up the role as managing contractors, hence creating opportunities for piling works to be awarded to sub-contractors.