EPIC eyes Kalimantan mart
By Goh Thean Eu, Business Times

EASTERN Pacific Industrial Corp Bhd (EPIC), a facilities and services provider for the petroleum and gas industries, is currently looking at expanding its business to Kalimantan, Indonesia.

Its chairman Datuk Mohamed Awang Tera said the company is currently conducting research on the feasibility of the project and will decide on the strategy to pursue once the research is completed.

Mohamed Awang said Kalimantan is the ideal place for expansion as the region is currently untapped and Epic can provide its expertise and technology for the region. The company is looking at setting up an integrated supply base for the region.

Besides Kalimantan, EPIC is also looking at expanding its business to Africa. Mohamed Awang said Indonesia remains as the company’s first priority and will only expand to Africa at a later stage.

EPIC’s net profit for the first quarter ended March 31 2005 increased by 10 percent to RM6.64million compared to the same period in 2004 (RM6.03 million).

Mohamed Awang, who is also the Terengganu state executive councilor, said the privatization of the Kemaman Port is currently in the final stages and is confident that it will be finalized by this year.

The privatization is undertaken by a consortium comprising EPIC, Road Builder (M) Holdings Bhd and the Perwaja group, with Epic having a 51 per cent stake in it.