SENDAI

0.700

-0.01 (-1.4%)

OTHERS EVERSENDAI CORPORATION BERHAD ("ECB"or The Company)

EVERSENDAI CORPORATION BERHAD

Type Announcement
Subject OTHERS
Description
EVERSENDAI CORPORATION BERHAD ("ECB"or The Company)

The Directors of the Company wish to announce that ECB’s subsidiaries in Kingdom of Saudi Arabia (“KSA”), United Arab Emirates (“UAE”) and India have secured new projects worth RM5.4 billion.

 

The Projects

In KSA, its subsidiary company, Eversendai Engineering Saudi LLC in collaboration with Albawani Company Limited secured the first structural steel signature building from NEOM for the Trojena Ski Village, NEOM’s year-round mountain destination. The scope of work consists of engineering, connection design, material supply, fabrication and installation of structural steel, precast and concreting, metal decking and fireproofing for the iconic mountain resort in Trojena’s Ski Village.

In UAE, its subsidiary company, Eversendai Mega Structure FZ LLC secured the structural steel scope for the Wynn Al Marjan Island Integrated Resort Development in Ras Al Khaimah which will feature a 1,500 rooms luxury hotel with world-class shopping, state-of-art meeting and convention facilities, bespoke restaurants and lounges, extensive entertainment choices and other amenities.

Its subsidiary company in India has secured two (2) structural steel projects which includes the Rupa IT Building and the Rupa Crystal IT Building.

With the above new projects, the Group’s current outstanding order book is RM6.6 billion, a record in ECB history.

 

Financial Effect

The Board is of the opinion that the above new projects are expected to contribute positively to the net assets and earnings of the Group for the financial year ending 31 December 2024 and onwards until the completion of the projects. The contracts will not have any effect on the share capital or substantial shareholders’ shareholdings. 

 

Risk Factors

The Company does not foresee any exceptional risk other than the normal operational risks.

 

Directors’ and Major Shareholders’ Interest

None of the Directors and/or Major Shareholders of the Company or persons connected with them has any interest, direct and indirect, in the above new contracts.

 

Statement by the Directors

The Board of Directors of the Company is of the opinion that the above new projects are within the ordinary course of business of the Group, is in the best interest of the Group and no approval from the shareholders is required.

 

This announcement is dated 13 March 2024.






Announcement Info

Company Name EVERSENDAI CORPORATION BERHAD
Stock Name SENDAI
Date Announced 13 Mar 2024
Category General Announcement for PLC
Reference Number GA1-13032024-00029