Ekovest to focus on construction sector
KUALA LUMPUR: Ekovest Bhd is planning to focus on its construction segment next year and ride on its RM5 billion tender book and RM6 billion order book.
After its annual general meeting, here, yesterday, Ekovest managing director Datuk Seri Lim Keng Cheng said there were bright prospects for the construction sector ahead.
“Ekovest is well positioned for sustained growth with a healthy construction order book in hand. This is expected to keep the company busy for the next three to five years. To date, Ekovest has a tender book of more than RM5 billion worth of jobs.
“Strong revival of job flows is expected in the near future, driven by several mega rail projects such as the East Coast Rail Link, High Speed Rail and Mass Rapid Transit 3, of which the contribution should not be underestimated.
“We are constantly reviewing and thinking of new infrastructure projects. Ekovest will promote ourselves to take on jobs that will benefit the whole of capital city. Providing traffic solutions through world-class infrastructure is our bread and butter.”
On its business segment restructuring moving forward, however, Lim said in the next five years, Ekovest aimed to scale down its construction segment from the current 70 to 40 per cent gradually.
Concurrently, the company would be leveraging its toll operation and property segments, which it also plans to increase to 30 per cent, respectively, in due time.
Lim said the plan would be done gradually despite the construction segment remaining in focus for next year.
He said Ekovest had six projects with potential gross development value in excess of RM7 billion lined up in its 10-year development master plan.
The company currently has a landbank of 12.14ha primarily in northern Kuala Lumpur and this will be the focus of its property division in the coming years.
The construction division remained the biggest contributor, accounting for 79 per cent of the registered revenue. Zarina Zakariah