General Announcement for PLC

08/04/2019

OTHERS EVERSENDAI CORPORATION BERHAD WINS NEW PROJECTS WORTH RM 196 MILLION

EVERSENDAI CORPORATION BERHAD

Type Announcement
Subject OTHERS
Description 
EVERSENDAI CORPORATION BERHAD WINS NEW PROJECTS WORTH RM 196 MILLION

1. INTRODUCTION

 

The Board of Directors of Eversendai Corporation Berhad (“ECB” or “Company”) is pleased to announce that the Company has, through its subsidiaries Eversendai Engineering Qatar W.L.L and Eversendai Engineering L.L.C, Dubai been awarded projects in Qatar and Abu Dhabi respectively (the “Projects”) worth approximately RM196 million.

 

2. INFORMATION ON THE PROJECTS

 

(i)   The first Project in Qatar was awarded by Al Baker Investments / Redco Construction - Almana and comprises connection design, engineering, fabrication, supply and installation of structural steel works, metal decking and fireproofing works for the Albaker Hotel Tower 1 & 2 in Doha, Qatar.

 

(ii) The second Project in Qatar was awarded by QIMC / Redco Construction – Almana and comprises shop and fabrication drawings, supply fabrication and shear stud fixing, blasting, primer and delivery of composite beam to site for the Abraj Al Tahwiliya (QIMC Tower at West Bay) at Doha, Qatar.

 

(iii) The Project in Abu Dhabi was awarded by Arabtec Construction and comprises connection design, fabrication, supply, erection, painting and fireproofing of structural steel works.

 

3. FINANCIAL EFFECTS

 

The Projects are expected to contribute positively to the earnings of ECB Group for FY2019 and FY2020.

 

4. RISK FACTORS

 

Risk factors affecting the Projects 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 abovementioned risk factors.

 

5. DIRECTORS' AND MAJOR SHAREHOLDERS' INTEREST

 

None of the Directors or major shareholders or persons connected with the Directors or major shareholders of the Company has any direct or indirect interest in the Projects.

 

6. DIRECTORS' STATEMENT

 

The Board of Directors of the Company is of the opinion that the acceptance of the Projects is in the best interest of the Company.

 

This announcement is dated 8 April 2019.

 


Please refer attachment below.


Announcement Info

Company Name EVERSENDAI CORPORATION BERHAD
Stock Name SENDAI
Date Announced 08 Apr 2019
Category General Announcement for PLC
Reference Number GA1-08042019-00055


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