Eversendai Corporation Bhd revealed a turn to profit, for the 1st quarter of 2017 ended 31st March 2017.\u00a0<\/p>\n
The Group announced a revenue of RM395.96 million and a pre-tax profit of RM18.71 million for the said period bringing the renowned engineering and construction specialist\u2019s books out of the red and into the black.\u00a0<\/p>\n
Eversendai Corporation Berhad\u2019s Executive Chairman and Group Managing Director, Tan Sri A K Nathan said, \u201cI am glad to announce that Eversendai is back on its profitability track gearing towards progressive profits here on.\u201d\u00a0<\/p>\n
The Group showed an increase of 107% in profit-margin from pre-tax loss of RM267.21 million as of 31st December 2016 to a profit of RM18.71 million as of 31st March 2017.\u00a0<\/p>\n
\u201cThe value of projects we have secured to-date has also increased in comparison to the same period in 2016. This year from 1st January to 31st March, we secured a total of RM801.4 million worth of projects,\u201d he further said.\u00a0<\/p>\n
The Group announced recently that it had won additional projects worth RM557.6 million from 1st April to-date bringing the total value of projects secured in 2017 to-date to RM1.36 billion.\u00a0<\/p>\n
This brings their order book to an excess of RM3.2 billion to-date. Overall the Group performed well, showcasing a healthy growth in terms of profitability this quarter in comparison to the same period in 2016.\u00a0<\/p>\n
\u201cThe internal restructuring and re-strategising in 2016 is now showing its yield in our profit margin,\u201d Nathan said.\u00a0<\/p>\n
\u201cWe are confident this will continue to grow as we step into new markets, both in terms of operating regions and new services.\u201d\u00a0<\/p>\n
As the Oil and Gas segment progressively recovers, the Group looks forward for additional projects in this area.\u00a0<\/p>\n
\u201cEven though the Oil and Gas sector had been facing an uphill challenge this past year, Eversendai Offshore was able to make a breakthrough, winning new contracts while creating its own track record from ground zero,\u201d said Nathan.\u00a0<\/p>\n
The Group, through their offshore arm, Eversendai Offshore, a wholly owned subsidiary of the Eversendai Group, to-date won 3 projects totalling to RM117.4 million for 2017.\u00a0<\/p>\n
The new wins are an engineering, constructing and start-up of an Offshore Services Support Building for a new refinery in the Middle East; a project management, fabrication engineering and construction of jacket and piles for a Wellhead Platform in the Persian Gulf and an engineering, fabrication and assembly of a TEG module for the North Sea in the United Kingdom.\u00a0<\/p>\n
\u201cI am very pleased to announce that recently Eversendai Offshore successfully conducted the loadout of our very first liftboat named \u2018Aryan\u2019. This is a significant milestone for both Eversendai Offshore Page 2 or 2 and the Eversendai Group. It has proven our diversification strategy to be on the right path,\u201d said Nathan.\u00a0<\/p>\n
The self-propelled jack-up, also known as liftboat, was built from scratch in the Group\u2019s Ras Al Khaimah fabrication yard in the United Arab Emirates.\u00a0<\/p>\n
This is a maiden voyage for the Group into building liftboats which includes detailed design and engineering. This will also be the first ever liftboat that is wholly built and owned by a Malaysian company.\u00a0<\/p>\n
The Aryan is one of 2 such liftboats commissioned by Vahana Offshore and built by Eversendai Offshore and it was built with a commendable Health, Safety and Environment record with no injury downtime during the 3 million plus hours of work put into this project.\u00a0<\/p>\n
The Aryan is targeted to be fully-released to Vahana Offshore in the 3rd quarter of 2017.\u00a0<\/p>\n
\u201cWe have weathered through the turbulent 2016. With the recovery in the Oil and Gas market and a positive economic outlook in the regions we are operating in, we are confident in achieving our RM2billion turnover target in 2017,\u201d Nathan positively concluded.\u00a0<\/p>\n
\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
Eversendai Corporation Bhd revealed a turn to profit, for the 1st quarter of 2017 ended 31st March 2017.\u00a0 The Group announced a revenue of RM395.96 million and a pre-tax profit of RM18.71 million for the said period bringing the renowned engineering and construction specialist\u2019s books out of the red and into the black.\u00a0 Eversendai Corporation […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-563","post","type-post","status-publish","format-standard","hentry","category-corporate"],"_links":{"self":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/comments?post=563"}],"version-history":[{"count":1,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/563\/revisions"}],"predecessor-version":[{"id":6306,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/563\/revisions\/6306"}],"wp:attachment":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/media?parent=563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/categories?post=563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/tags?post=563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}