Wednesday, 18 April 2012

Eversendai secures RM134 million Qatar museum job

KUALA LUMPUR (April 18) : South Korea’s Hyundai Engineering & CONSTRUCTION [] Co Ltd has roped in Malaysia’s Eversendai Corp Bhd as a sub contractor for package 2 of the Qatar National Museum project. The package is worth QAR160 million (about RM134 million).

In a statement to Bursa Malaysia on Wednesday, Eversendai said it will fabricate and supply steel structures for the construction of the museum.

“Risk factors affecting the Qatar National Museum package 2 contract include but are not limited to execution risks such as availability of skilled manpower and materials,changes in prices of materials, and changes in political, economic and regulatory conditions.

“The company has throughout the years established its track records and expertise to undertake such projects. As such, the management believes that the company is able to mitigate the abovem-entioned risk factors,” Evesendai said,

The job, due for completion in 2013, is expected to contribute to the firm’s earnings for financial years ending December 31,2012 and 2013, it said. Eversendai had secured the estimated RM81 million package-one portion of the Qatar National Museum last February.

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