Eversendai eyeing RM750m jobs - 25 April, 2005 ( Business Times )


Shin-Eversendai Engineering (M) Sdn Bhd (Eversendai) is optimistic of securing construction jobs valued at RM750 million in the next two years due to encouraging demand for its services, especially from abroad.

Eversendai, which is 30% owned by main board-listed IJM Corp Bhd, expects the new jobs to come from West Asian countries, particularly the United Arab Emirates.

The company has around RM455 million jobs in hand, of which 65% are in Dubai and Qatar. It expects to secure more projects later this year.

"We are tendering for several big jobs in West Asia valued at between RM150 million and RM250 million each," Eversendai Founder and Managing Director Datuk A.K. Nathan said.

So far this year, the company has secured three contracts from West Asia worth some RM220 million.

Eversendai won a RM53.3 million structural steel subcontract for the RM250 million Rose Tower project in Dubai. Then it won a RM40 million project to help build Dubai Festival City and a RM125 million contract for works on Qatar Sci.& Tech. Park in Qatar.

The low-profile company, which has been operating for 20 years, has played a crucial role in the construction of some of the world's famous landmarks such as Burj al Arab Hotel in Dubai, Kingdom Trade Centre in Saudi Arabia, Emirates Office & Hotel Tower in Dubai, KL Sentral, KL Tower and the Kuala Lumpur International Airport's main terminal building.

Eversendai is mainly involved in structural design, engineering, fabrication and erection of steel works, precast panel, roofing and wall cladding installation, mechanical and piping and equipment erection works.

It is also involved in turnkey structural steel construction for high-rise buildings, heavy industrial plants, stadiums, steel bridges, airports and infrastructure projects.

Moving forward, Nathan said the company will invest around RM22 million this year - RM10 million to set up a steel fabrication factory in Bukit Beruntung, Selangor and RM12 million for the expansion of its present fabrication facility in Dubai.


Adapted from "Business Times", 25 April, 2005