Eversendai's order book swells to RM2.5 bil after landing RM1.8 bil contracts

KUALA LUMPUR (Oct 24): Eversendai Corp Bhd's order book swelled to RM2.5 billion after the company secured RM1.8 billion worth of contracts in the Middle East, India and Southeast Asia.

"Our current order book and tender book now stands at RM2.5 billion and RM20.8 billion respectively," the steel turnkey contractor said in a statement today.

"We are working tirelessly to secure more new contracts before the end of the year," its chairman and managing director Tan Sri A K Nathan said.

Nathan said the group has surpassed its past record and expects Eversendai to perform well moving forward.

Among the new projects secured in September 2016 are luxury residences The Royal Atlantis in Dubai and the Al Wakrah Bypass in Qatar.

In India, Eversendai has bagged contracts for the IT park Rupa Renaissance in Mumbai, and the Ameerpet interchange station and Mahatma Gandhi bus station in Hyderabad.

Meanwhile, winning the New State Courts project has enabled Eversendai to re-enter the Singapore market after a lapse of 10 years.

The company has also secured the Sinohydro-Jimah project for a steam turbine and centre control building in Malaysia.

"We will continue to be a key player in our existing markets and we are certain that we will be able to deliver stronger results and growth," said Nathan.

At 2.49pm, Eversendai rose 0.5 sen or 1.05% to 48 sen with 1.88 million shares traded. It has a market capitalisation of RM371.47 million. — theedgemarkets.com