AFTER a tough 2016, Sarawak-based developer Ibraco Bhd is expecting its earnings to rebound this year and subsequently take off thanks mainly to its maiden airport construction job in Mukah worth RM302.64 million.
The expected boost from its construction arm, which was idle last year, would coincide with the beginning of revenue recognition from multiple new developments beginning end-2017 onwards.
The expected boost from its construction arm, which was idle last year, would coincide with the beginning of revenue recognition from multiple new developments beginning end-2017 onwards.
Ibraco’s unbilled sales currently stand at RM290 million. To date, it has achieved RM220 million in sales and Chew believes the developer is on track to hit its internal target of RM350 million, which would be double its FY2016 figure.
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