No, it started locally even though back then. It has high hopes of going global almost immediately on listing on the MESDAQ Board those days.Through networking it got some telemetry jobs over in Putrajaya and also made in-roads into pre-diagnostics software which was adopted by some premier hospitals in the Klang Valley.
You may not remember but Metronics was a dividend paying counter. It even gave a bonus issue when it migrated to the Main Board. As the projects in their books took off and complete,new projects were hard to find. It tried very hard going over to the Middle-east,India and China. Except for a few MOUs, nothing solid came Metronic's way.
The share price plunged below 5 sen at one time. Then it became hot again somewhere in the third quarter of 2009 when Metronics secure a build-operate and transfer water project in An-Hui province, China. The share price went as high as 16 sen.
Today's news as the year closes is good news for fatigued but loyal Metronic shareholders. That Metronic Global Bhd’s subsidiary Metronic Engineering Sdn Bhd has won an Arab Emirates dirham 21.3 million (AED100 = RM96.20) job from Sunway Engineering Sdn Bhd for the proposed Arzanah development in Abu Dhabi, the United Arab Emirates is some comfort. It is a start. I am sure shareholders would be most thankful to Sunway for off-loading the IT portion to Metronics which is its forte.It is not easy going it alone in the vast reaches of the Middle-East. That Sunway and Metronics have banded together in alliance speaks of more promising jobs in the future.
The job with Sunway Engineering is for a sub-contract to supply, deliver, install, test and commission the building management system, telecommunication and ELV services for Rihan Heights.
The project is expected to be completed by October 31 2010.
I can see more turn-around for Metronics in 2010?
Do you dare invest in Metronics? It is till below 10 sen today.
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