Posted on 06 Sep 2016
Steel structure player Eversendai Corporation Bhd has secured RM1.53 billion worth of projects in the Middle East, India, Malaysia and Thailand in the first eight months of 2016.
Executive chairman and group managing director Tan Sri AK Nathan said that of the total, RM649.2 million was from projects in the Middle East, RM373.5 million in India and a combined RM504.0 million in Malaysia and Thailand.
"Eversendai has a strong outstanding order-book of RM2.4 billion. This provides the group with solid earnings visibility in the next two years," he said in a statement released to Bursa Malaysia on Monday.
Nathan said the group would continue to strengthen its position in the Middle East by securing contracts for a theme park in Abu Dhabi, as well as a few other unique architectural landmark projects in the region with the upcoming Dubai World Expo 2020 and FIFA World Cup Qatar 2022.
"These projects in the Middle East will complement and contribute to the United Arab Emirates' growing popularity as a tourism hub," he said.
Going forward, the group is optimistic of achieving RM2 billion in revenue by 2017.
Eversendai has, over the past 28 years, completed more than 300 projects in Malaysia, Dubai, Abu Dhabi, Qatar, Saudi Arabia, Oman, Azerbaijan, India, Hong Kong, the Philippines, Indonesia, Thailand, Singapore and India.
The projects included some of the world's iconic landmark structures such as the Burj Khalifa and Burj Al Arab in Dubai, the Tanjung Bin Power Plant and Petronas Tower 2 in Malaysia, Kingdom Centre and CMA Tower in Saudi Arabia, Abu Dhabi International Airport and Capital Gate Tower in Abu Dhabi, and the Hamad International Airport and Qatar National Museum in Qatar.
