KUALA LUMPUR: Eversendai Corp Bhd’s subsidiary Shin Eversendai Engineering (M) Sdn Bhd has been awarded a RM132 million contract for work on the Manjung Power Plant.
In a statement to Bursa Malaysia yesterday, Eversendai said the work is related to the provision of “mechanical erection for boiler and auxiliary equipment for the Manjung Unit No 4”, for client Alstom Services Sdn Bhd.
There are several other packages within this project for which Shin Eversendai and Alstom are in negotiations, it added, citing more projects in the pipeline.
“With a sturdy order book of RM1.6 billion after the inclusion of this new project, we expect to exit FY11 in a firmer position and have growth visibility into FY12 and beyond,” said Datuk AK Nathan, Eversendai group managing director.
The group is presently executing the structural steel works for contact piers, sky bridge and satellite building for KLIA2 and fabrication of pipe racks structures for Sabah oil and gas terminal (SOGT) projects.
For the quarter ended Sept 30, Eversendai reported a group revenue and profit after tax of RM254.4 million and RM30.7 million, respectively. Revenue and profit after tax for the nine-month period was RM720.4 million and RM97 million, respectively. The company was listed in July this year.
“With the diverse and strong order book, the group is strategically positioned to perform well in FY11 and going forward. The wide geographical spread, number of projects and large client base of the current order book sees the group grow substantially as it is not dependent solely on any specific sector and or client,” said Nathan.
This article appeared in The Edge Financial Daily, November 22, 2011.
In a statement to Bursa Malaysia yesterday, Eversendai said the work is related to the provision of “mechanical erection for boiler and auxiliary equipment for the Manjung Unit No 4”, for client Alstom Services Sdn Bhd.
There are several other packages within this project for which Shin Eversendai and Alstom are in negotiations, it added, citing more projects in the pipeline.
“With a sturdy order book of RM1.6 billion after the inclusion of this new project, we expect to exit FY11 in a firmer position and have growth visibility into FY12 and beyond,” said Datuk AK Nathan, Eversendai group managing director.
The group is presently executing the structural steel works for contact piers, sky bridge and satellite building for KLIA2 and fabrication of pipe racks structures for Sabah oil and gas terminal (SOGT) projects.
For the quarter ended Sept 30, Eversendai reported a group revenue and profit after tax of RM254.4 million and RM30.7 million, respectively. Revenue and profit after tax for the nine-month period was RM720.4 million and RM97 million, respectively. The company was listed in July this year.
“With the diverse and strong order book, the group is strategically positioned to perform well in FY11 and going forward. The wide geographical spread, number of projects and large client base of the current order book sees the group grow substantially as it is not dependent solely on any specific sector and or client,” said Nathan.
This article appeared in The Edge Financial Daily, November 22, 2011.
