Eversendai gets 3 new Middle East jobs worth RM196m

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KUALA LUMPUR (April 8): Eversendai Corp Bhd has clinched three new projects with a combined value of RM196 million in Qatar and Abu Dhabi, the United Arab Emirates.

In a filing with the exchange today, Eversendai said the latest projects took its total contract wins to RM602 million to-date for the year 2019, lifting its order book to approximately RM2.52 billion.

It said its subsidiaries Eversendai Engineering Qatar WLL and Eversendai Engineering LLC, Dubai, have been awarded projects in Qatar and Abu Dhabi respectively.

The company said its newly acquired job in Abu Dhabi involves a museum project.

Eversendai said it was also awarded structural steel works for two high-rise building projects in Qatar.

In a separate statement, Eversendai executive chairman and group managing director Tan Sri A K Nathan said its core business tender book stands at RM10 billion and that it was confident to win more work progressively.

"Eversendai is continuously looking at delving into new opportunities in inter-related industries whilst maintaining its commendable performance and track record.

"Our business philosophy is to not depend on a single market or client," he said.

Nathan said regardless of how the overall global market behaves, the construction sector will keep growing according to its economic development of respective countries.

"I believe we are well-positioned to overcome any obstacles and stay on course to achieve our business goals," he said.

At the midday break today, Eversendai rose 1% or 0.5 sen to 50 sen with 4.7 million shares traded.