KUALA LUMPUR, August 29, 2016 – Eversendai Corporation Berhad, a provider of specialist engineering and construction services with a strong presence in the Middle East region, India and Malaysia, today reported their second quarter financial results for 2016.
For the second quarter ended 30 June 2016, the Group reported a revenue of RM422 million and a loss of RM20 million was recorded as compared to a revenue and profit after tax of RM425 million and RM14 million, respectively for the corresponding quarter of 2015. The Group’s loss for the second quarter was mainly due to a loss resulting from fair value of financial assets, without which it would have been a profit of RM17 million. Tan Sri A K Nathan said, “Our focus will be on sustaining our operational performance to continue delivering value to our shareholders and stakeholders. We are constantly striving to explore new business opportunities and venture out to new markets in the industry.
In addition to this, we are confident our strong track record, existing and future plans which have been charted out within Eversendai will place us in the forefront in having an increased share in business opportunities, locally and globally as we have a team of fully-committed and focus driven individuals.
Our Middle East segment continues to drive the Group’s revenue by contributing 56.8% of the total revenue from their operations in the United Arab Emirates, Saudi Arabia and Qatar. The balance of the Group’s revenue was derived mainly from the operations in Malaysia and Thailand (10.3%), India (9.3%) and the oil and gas sector (23.6%).”
In line with its tagline, ‘Towering – Powering – Energising – Innovating’, Eversendai is continuously looking at delving into new opportunities in inter-related industries whilst maintaining its commendable performance and track record.