KUALA LUMPUR – Eversendai Corporation Bhd’s tender book is estimated at approximately RM11 billion with interesting and highly prospective iconic landmark projects in the pipeline, especially in Saudi Arabia and India, group managing director Tan Sri A. K. Nathan said.
In a filing with Bursa Malaysia, he said the group anticipates a gradual and steady recovery in 2023 with the current backlog of new order books secured and the overall positive market outlook in key geographical regions the group operates in.
He said the group has embarked on a comprehensive and thorough internal review of cost estimates and margins of all the ongoing projects to ensure prudent recognition of profits and further strengthening operational and management controls.
“The focus has been on solidifying the business and concentrating on geographies where we have a strong competitive advantage and opportunities for growth,” he said.
He also said that the group is confident of overcoming the challenges to recover with a strongly committed team in becoming a stable and sustainable group going forward.
“With the new projects, opportunities in the respective regions will further enhance our growth,” he said.
Eversendai said it has secured nine new projects worth RM1.1 billion from its subsidiaries in the United Arab Emirates, Qatar, Saudi Arabia, India, and Singapore.
“Despite many challenges, the Eversendai group foresees the year 2023 as a year of recovery and resilience after the onslaught of the Covid-19-related impacts on the group,” it said. – Bernama, May 15, 2023
