MTD Walkers PLC (MTD), the infrastructure development company, is gearing for a branding exercise within this financial year in a bid to better position the company, officials say.
“We’re planning a branding exercise and whatever that comes out of it will be accordingly implemented,” Jehan Amaratunga, CEO MTD told the Business Times. MTD Capital has many investments and firms ranging from power, road construction, mechanical engineering, air-conditioning and refrigeration, plantation and machinery together with heavy foundation. Mr. Amaratunga said the company is keen to consolidate its investments and bring in an 'easily identifiable’ name. He added that the company is now consolidating all its investments and a clear brand will supplement this exercise.
He said the company is looking to expand in the energy sector and as an initial step will expand its 30 Mega Watt Jaffna power plant. “We’re studying the next set of projects which will be in hydro and wind power. We’re also interested in solar power on a fairly small scale,” Mr. Amaratunga added.
He also noted that MTD bought into Kapila Heavy Equipments PLC a few years ago primarily as an investment vehicle. “Since it was a listed entity, this company enticed us,” he added. He also said that MTD will not rule out any good acquisition in the construction industry.
While last year MTD posted Rs. 2.7 billion revenue for last year, Mr. Amaratunga says that for this year's first half it has already recorded Rs. 2.8 billon. But when asked why MTD was losing money for the past two years, he noted, "MTD went into many investments which depressed the company’s bottomlines during this time, but was the right time for these particular investments”.
MTD also says that it will bring together better synergies with their latest acquisition, Colombo Engineering. “This was one of the few fields that we weren’t in. We see a large potential in this sector,” he said. |
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