Muhibbah Engineering with Mac family in charge
October 05, 2021
Muhibbah Engineering (M) Berhad is an international engineering construction group involved in petrochemical facilities construction, airport development, shipyard development, steel fabrication and airline support equipment manufacturing for maritime, oil and gas, and infrastructure projects in both local and global markets. It owns a listed subsidiary, Favelle Favco Berhad (“Favco”), which provides one-stop solutions as a manufacturer of specialised offshore oil and gas pedestal cranes as well as tower cranes for the global markets.
Muhibbah Engineering was incorporated in Malaysia on 4 September 1972 and has been listed on the Main Market of Bursa Malaysia Securities Berhad (“Main Market”) since 1994. 2020 was an unprecedented year when the global economy plunged into recession due to the Covid-19 pandemic. Restrictive measures and lockdowns to curtail the spread of the Covid-19 pandemic have disrupted supply chains in 2020 and adversely affected the group’s business. For financial year ended 31 December 2020 Muhibbah Engineering achieved revenues of RM1.5 billion but reported a pre-tax loss of RM56.2 million.
Muhibbah Engineering has a BuildOperate-Transfer concession for the development and management of Cambodia’s international airports. These airports are in Phnom Penh (the capital city of Cambodia), Siem Reap (home to the UNESCO World Heritage Angkor Archaeological Complex) and Sihanoukville (the port and beach resort city). Muhibbah also has a wholly-owned shipyard under Muhibbah Marine Engineering Sdn Bhd, located at Telok Gong, Port Klang for shipbuilding and ship repair business activities. The Group’s long term vision is to be in concessions as owner and operator as well as to be an infrastructure and construction solutions provider. Such vision also includes being a heavy-lifting crane manufacturer via Favelle Favco as well as an automation service provider for the global oil and gas and commercial industries via its acquisitions in four companies in 2018, namely Exact Automation Sdn Bhd, Sedia Teguh Sdn Bhd, Exact Analytical Sdn Bhd and Exact Oil & Gas Sdn Bhd (the four companies collectively known as the “Intelligent Automation Group”) which provide design, engineering and maintenance services for automation solution and process analysers and specialised equipment.
The company has long been actively managed by the Mac family, both engineers. Mac Ngan Boon @ Mac Yin Boon, 77, is the Group Managing Director while his son, Mac Chung Jin, 47, is the Deputy CEO of Muhibbah Engineering. Founder Mac Ngan Boon comes from a family of engineers and contractors. He obtained a Bachelor of Engineering (Civil) Degree from the University of Western Australia in 1967. He is also a professional engineer with the Institute of Engineers Malaysia. He started work as a construction engineer in 1967. He has been the Chairman of the Machinery and Equipment Manufacturers Association of Malaysia (MEMA) since 1998 and the Chairman of the Machinery and Engineering Industries Federation (MEIF) since 2016. He is also an Executive Director of Favelle Favco Berhad.
Mac Chung Jin holds a Bachelor of Civil Engineering Degree from Oxford Brookes University, United Kingdom. He joined Muhibbah Engineering in 1995 as a Project Engineer and in 1999, spearheaded local and international projects. He was appointed Deputy Chief Executive Officer of the Company on 2 September 2013. appointed as Executive Director of Muhibbah Engineering (M) Bhd on 15 May 2014.
Mac Ngan Boon has another son on the board of Muhibbah Engineering - Mac Chung Hui, 42, who is the Managing Director of Favelle Favco Berhad. He is also an engineer.
As at 3 May 2021 Mac Ngan Boon is the single largest shareholder of Muhibbah Engineering (M) Berhad with a direct stake of 15.35%. The other substantial shareholder is Fidelity Funds with a direct stake of 6.85% and indirect stakes of 8.8%.
- Muhibbah Engineering (M) Berhad. Annual Report 2020. https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=208994&name=EA_DS_ATTACHMENTS
- Fidelity Investments. https://www.fidelity.com/mutual-funds/fidelity-funds/overview
- Malaysia External Trade Development Corporation. Muhibbah Engineering Berhad. https://www.matrade.gov.my/en/31-malaysian-exporters/going-global-exporters-success-stories/2055-muhibbah-engineering-bhd