MTD Walkers PLC (Walkers), whose majority shareholder is the Malaysian based MTD Capital Bhd., is gearing to reposition itself by rebranding in a bid to better reflect its businesses, informed sources said.
"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. We restructured to bring all this under Walkers, last year and we are trying to reposition the company by changing the name," a source at the company told the Business Times.
He said that a name change will focus on retaining the ‘Walkers’ part of the name as many identify with this name," he explained, adding that by March next year the company will come out with a new name.
MTD Capital entered into the Sri Lankan share market by purchasing a majority stake in Kapila Heavy Equipments PLC, the holding company of the Walkers Group of Companies. MTD Capital has 90.78% in Walkers. The Company bought Kapila Heavy Equipment in 2007.
MTD Walkers was the only infrastructure company amongst 10 other blue chip companies selected to make a presentation representing Sri Lanka at the Capital Markets Day at the London Stock Exchange recently.
The company recently signed a joint venture contact with China Shipbuilding to operate a floating dock at a cost of US$100 million at the new Hambantota port and is also a principle sub-contractor to upgrade 200 telecommunication towers in Sri Lanka with a further 800 towers expected to be upgraded in the future.
The company is also studying a proposal to construct Sri Lanka’s first toll road (US$850 million Colombo-Kandy expressway) as well as piling related projects to construct low cost housing for 40,000 families. Additionally, a US$200 million worth of water treatment project is under consideration.