Eversendai confident of achieving RM2 billion revenue in FY17
Published on: Tuesday, June 30, 2015
Kuala Lumpur: Eversendai Corporation Bhd is confident of doubling its revenue and hit the RM2 billion mark by the financial year ending Dec 31, 2017 (FY17).Its executive chairman and group managing director, Tan Sri A.K. Nathan, said the group could even reach the target a year earlier in FY16. "Our core business as well as our new businesses such as in oil and gas which we have embarked in the last few years would definitely pay off.
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"We have positioned ourself, and with the opportunities lying ahead for us, I am confident we will be able to achieve the RM2.0 billion target," he said after the company's annual general meeting (AGM) here Monday.Eversendai raked in a total revenue of RM1.0 billion in FY14. Nathan said the business prospects were still 'very much there' in West Asia, India, locally and Southeast Asia.He said 90 per cent of the group's operations currently are overseas, and this could add another advantage to its bottomline."Quite a number of our contracts are pegged to the US dollar. When we repatriate profits, we will definitely have better numbers to talk about," said Nathan.
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Meanwhile, in a filing to Bursa Malaysia on Monday, Eversendai said it had secured new contracts worth RM250 million through its subsidiary companies in Malaysia, India and the United Arab Emirates to surpass the RM1 billion mark for new projects secured in the first half of 2015."We anticipate winning more contracts from our current tender book of over RM23 billion and we will continue to aggressively pursuit a substantial number of commercial and infrastructure projects in West Asia, India and Malaysia," Nathan was quoted as saying.
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"We have had a very positive outlook for the first half of 2015 by securing projects worth over RM1 billion," he said.Stay up-to-date by following Daily Express’s Telegram channel.
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