KUALA LUMPUR (Oct 1): Eversendai Corp Bhd executive director Narishnath Nathan has been redesignated as deputy group managing director of the group effective immediately.

He is the son of Eversendai’s founder, executive chairman and group managing director Tan Sri AK Nathan Elumalay.

In a filing with Bursa Malaysia on Friday, the group said Narishnath, 38, first joined Eversendai Dubai in 2004, after which he was posted to Eversendai Qatar in 2006 as its general manager where he, among others, set up the group’s fabrication facility and managed several other major projects. 

Narishnath was also instrumental in securing several large contracts for Eversendai and has served the company as country head and executive director for its Indian operations representing four divisions — infrastructure, engineering, power and fabrication. He is also chief executive officer of Eversendai’s group energy division.

On Thursday (Sept 30), the steel construction player announced that its net loss narrowed to RM8.6 million for the second quarter ended June 30, 2021 (2QFY21) from RM26.3 million a year ago. Quarterly revenue, however, increased to RM282.1 million from RM192.6 million in 2QFY20.

Eversendai’s order book in hand stood at RM1.59 billion, while its tender book totalled RM12.17 billion.

Eversendai shares closed down one sen or 4.65% at 20, bringing a market capitalisation of RM160.13 million.

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