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MALAYSIA : Eversendai Corp to bids for infrastructure development projects worth MYR 12 billion
Publish Date : 12-Jan-2012
Eversendai Corporation Bhd is bidding for MYR 12 billion worth of infrastructure development projects all over the world.
According to Mr AK Nathan executive chairman and group managing director, Eversendai Corporation, the projects would include iconic infrastructure development, power plants, engineering jobs and other segments in relation to core businesses of Eversendai.
He said, “The projects will be situated mainly in the Middle East, South East Asia and Commonwealth of Independent States region.”
The bidding procedure was ongoing and Eversendai hopes to secure at least 20% of the projects, Nathan said. He added, “Our success rate is usually 20% and this time around, we think it will be a similar figure. If it\'s more, I would be happy.”
Mr. Nathan said, “Every year, we have seen 10% growth. 95% of our earnings accrue from Eversendai\'s overseas operations while the Malaysian operations contributed the remaining 5%. However, this year onwards, we will be very busy in Malaysia. We have just completed the Manjung power plant and have kick started the KLIA 2 project and a project in Sabah.”
He added, “We expect many more to come as we have bid for many more projects in Malaysia. The projects are part of the MYR 12 billion projects we have already bid for. But nothing is finalized until the contract is awarded.”
Mr Nathan Malaysia and India would become Eversendai\'s fastest growing markets in near future. He said that “In India, we have five ongoing projects which comprise two high rise buildings and three power projects. One of them is the MYR 350 million World Tower, which comprises a 50 storey and an 80 storey buildings.”
