Eversendai secures RM1.6bil contracts
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KUALA LUMPUR: Eversendai Corp Bhd has secured some RM1.6bil worth of new contracts from repeat and new clients in the last few months from its main operating markets in the United Arab Emirates (UAE), Saudi Arabia, Qatar, Sri Lanka, India, Singapore and Malaysia.
The group’s construction order book currently stands at RM2.13bil as at June 2022 and this is expected to grow further in the coming months, group managing director Tan Sri A.K. Nathan said in a statement yesterday.
The contract wins include notable projects such a large prestigious museum in Abu Dhabi, the King Salman Park-Loop Bridges in Saudi Arabia, the Cultural Centre Education City in Qatar and the Bandaranaike International Airport development in Sri Lanka that is funded by the Japanese government.
Eversendai will also be involved in the Keppel Tower and the Labrador projects in Singapore and the SK Nexilis project in Sabah.
The group said the SK Nexilis, a copper foil manufacturing plant, will see its main structural steel works be completed by end-December 2022.
“As we move into the next phase of recovery and rebuilding, we will concentrate on reshaping the Eversendai Group with a renewed focus on our core fundamental values in geographical regions where we have been traditionally strong to seize the various emerging opportunities,” Nathan said.
“Going into the second half of 2022, there are many interesting and new projects which we are confident we will be able to secure, given our strong team, well positioned resources, long-term experience and expertise in this industry and support from stakeholders,” he added.,
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He said this will help Eversendai stay resilient against further external shocks and overcome any obstacles, moving forward.
In hindsight, the group said 2020 and 2021 were very challenging years for the global economy.
“During this extremely challenging unforeseeable period, the Eversendai Group had to perform the greatest balancing act in its history by dealing with the Covid-19 pandemic while focusing on its long-term sustainability,” it said.
The structural steel specialist added that it had managed to weather this unprecedented pandemic with resilience and determination to recover progressively.
Most of the fabrication facilities and project sites across the group could not perform to their capacity due to the various Covid-19 disruptions which had eroded its bottom line, it said.
Despite this setback, significant milestones were still achieved by the group such as the strategy of expanding into the European offshore wind renewable energy (RE) sector.
It has successfully delivered three major offshore wind projects in the Netherlands and Scotland in 2021 and 2022 from its waterfront fabrication facility in Ras Al Khaimah in the UAE.