Eversendai to continue to focus on Middle East market

by **Cals** Thu 10 Oct 2013, 17:26

Business & Markets 2013

Written by Bernama

Thursday, 10 October 2013 14:53

KUALA LUMPUR (Oct 10): Eversendai Corp Bhd will continue to focus on the Middle East market for infrastructure works due to the huge potential in the region.
Its Executive Chairman/Group Managing Director Tan Sri A.K. Nathan said more infrastructure works would come up in the Middle East, hence increasing the region's revenue contribution to the group's topline.
"I’m looking forward to have a long-term business relationship with all those countries in the region, by keeping Dubai as the base," he told Bernama ahead of the fourth Global Entrepreneurship Summit 2013 (GES 2013).
Nathan is one of the speakers at GES 2013. The two-day summit will begin tomorrow.
For the second quarter ended June 30, 2013, Eversendai recorded a revenue and pre-tax profit of RM247.5 million and RM16.6 million respectively compared with RM257.7 million and RM32.3million a year earlier.
Currently, the Middle East segment dominated the group’s revenue, contributing 64.8 per cent to total revenue from its operations in United Arab Emirates, Saudi Arabia, Qatar and Oman.
India and Malaysia operations contributed 12.7 per cent and 22.5 per cent respectively to group revenue.
Apart from looking at Southeast Asia for its expansion plan, Nathan said Eversendai was also eyeing the Commonwealth of Independent States including Azerbaijan and Kazakhstan as well as West African countries.
To date, Eversendai has an orderbook worth RM1.5 billion, which will keep the company busy for three years.
Among its completed high-profile projects were the Petronas Twin Tower 2, Kuala Lumpur International Airport, Burj Al-Arab and Burj Khalifa in Dubai.