Concrete pile and steel pipe manufacturer Daido Concrete (HK) is expecting to see a turnaround as more housing construction work comes on stream and the ninth container terminal project creates demand for pipes.
In the year to April, the company reported an attributable loss of $121.1 million, compared to a profit of $15.7 million the previous year.
Executive director Johnny Fan Siu-kay said the Government's plan to build more public housing and develop new districts such as Tin Shui Wai would spur demand for concrete piles.
The increased works would also create more opportunities for Daido's recently established pre-fabricated housing parts manufacturing unit, Daido Home International (DHI), and its 70 per cent-owned property construction arm, Kam Wo Construction Co, Mr Fan said.
Since the beginning of the financial year, DHI had been involved in pre-fabricated housing work on about 100 independent houses with a contract value of $800,000 to $900,000 per house.
Kam Wo Construction had outstanding contracts totalling $250 million.
