MANILA, Philippines – Megawide Construction Corp., one of the country’s top building contractors, is tapping the Southeast Asian market as it ventures into exports of pre-fabricated construction materials. Local infrastructure projects and exports will form part of the company’s plan to diversify its revenue stream in the long run, a company executive said. “We’re considering regional expansion, particularly supply of our pre-cast (materials),” Megawide chief financial officer Oliver Tan said. Megawide’s first shipment of pre-fabricated construction materials to a Southeast Asian residential project contractor will likely be conducted early next year, Tan said. “We’re still looking at the numbers but it looks promising,” Tan said, adding that Megawide will benefit from zero tariffs for construction materials. The listed firm’s P1-billion pre-cast production plant in Taytay, Rizal, the biggest one-stop facility for pre-cast concrete building systems in the country and one of the largest in the region produces materials like beams, columns, stairs and walls. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “Our facility is state-of-the-art in Southeast Asia. We’re more advanced than our neighbors so we’re looking at the supply of pre-cast regionally,” Tan said. To date, the pre-fabrication facility’s utilization rate is just 30 percent. “We’re trying to market our pre-cast products to horizontal developments,” Tan said, adding that pre-fabricated items have been sold mostly to high rise developments in the past few years. For the next three years, the supply of pre-cast building materials is targeted to account for 20 percent of Megawide’s total revenues, Tan Read More …
