LAST_UPDATEFri, 22 Jun 2018 11pm

Better Environment Laws Triggers More Demand For Picorp's Pollution Monitoring Equipment

Shah Alam: Progressive Impact Corp Bhd (Picorp) sees better demand for its products this year as plants and factories nationwide rush to comply with Department of Environment's stricter air pollution regulation by July 2019.

"Plants and factories that emit smoke are placing order for our equipments and softwares in preparation to comply with stricter control of air pollution," said Picorp group executive director Datuk Dr Lukman Ibrahim.

"The Department of Environment will start to enforce fully the Environmental Quality Regulations (Clean Air) 2014 starting July 2019," he told reporters after the company's shareholders' meeting here today.

"Our predictive emissions monitoring system is certified by the Department of Environment. So, plants and factories using our products are assured of compliance to the stricter clean air regulation," he said.

Also present was Picorp chief financial officer Nadzrah Hashim. She noted that last year, Picorp posted RM1.0 million in profits on the back of RM83.88 million in revenue.

In the first quarter ended March 2018, Picorp's business had already shown improvement with RM1.38 million in profits on the back of RM22.21 million in revenue.

In 2014, the Natural Resources and Environment Ministry formulated the Environmental Quality Regulations (Clean Air) 2014 to incorporate the latest pollution control technology and standards adopted by developed countries.

The government gave plants and factories emitting smoke five years of preparation until 1st July 2019 to comply with the stricter control over air pollution.

Among sectors that are mandated to invest in cleaner technologies to satisfy this new requirement are coal-fired power plants and steel mills.

Lukman went on the say that Picorp's business in Indonesia is also set to gain from the Indonesian government requlation mandating oil companies to rehabilitate soil conditions around oil fields, after they finished drilling.

"When oil companies have finished and are to surrender back the oil fields, they must, under Indonesian law, carry out soil remediation. That's where we come in to provide the solution to meet environment safety," he said.

"On the whole, we're optimistic of doing better this year, thanks to these captive markets for our products to comply with a safer and cleaner environment," Lukman added.