INTER-ROLLER Engineering, which provides airports with baggage handling systems, yesterday re-organised its top management in view of expected growth in new markets and to enable it to better comply with the guidelines in the new corporate governance code.

The company yesterday also said it has sealed a $40 million contract to build an automated baggage handling system in the new Bangkok International Airport.

In July, it was in a consortium which won a contract to design and supply a baggage handling system to the new Terminal 3 at Changi Airport.

Inter-Roller's share of the contract was $44 million.

Under its management changes, Lim Yong Wah, who has been the company's executive chairman, is now Inter-Roller's chairman and executive director.

Yap Lem, who has been the managing director, is now chief executive officer. Lim Yee Min has been promoted from deputy managing director to managing director and was also appointed to the company's board.

Mr Yap told BT yesterday: 'Our two new projects are worth over $80 million, and our group turnover has been $20-$30 million each year. This year our total projects on hand are worth over $100 million.

'Our organisation is now growing, and we plan to put in more effort to grow, especially in the US and Europe, because baggage handling has become a key issue as security is now tighter at airports following the Sept 11 events last year,' he added.

Mr Yap said that with more potential projects coming along, the company decided that personnel changes would be needed to better manage the business and the firm's growth.

He added that the changes would also enable Inter-Roller to better comply with the corporate governance code. One of the recommendations of the code, which comes into effect in January next year, is that the chief executive and chairman functions of listed companies be separated.

Mr Yap said the group's Changi airport and Bangkok airport projects will start contributing significantly to Inter-Roller's performance for the next three years from 2003.

The company also has baggage handling projects of smaller values at airports in India, China, Australia and Cambodia.

Besides these, the company provides engineering design and systems solutions in other industries.

《The Business Times》