EKOVEST EXPECTS TO BAG PROJECTS WORTH RM2.5b

KUALA LUMPUR: Ekovest Bhd expects to secure about RM2.5 billion worth of projects it has tendered for, which will lift its earnings next year.

Managing director Tan Sri Lim Keng Cheng said the projects would keep the company busy next year.

Ekovest also expected infrastructure projects, affordable housing offerings as well as construction work next year to contribute more positively to its earnings, he added.

“We have tendered for about RM5 billion worth of projects and we are going to tender for more. We target a success rate of at least 50 per cent.

“Next year will definitely be better for us. Despite all the negative sentiments, things will turn out well for us,” he said after the opening of a newly-completed elevated U-turn at its EkoCheras, here, yesterday.

The construction of the elevated U-turn was funded by Public Private Partnership Unit.

It is part of the whole the EkoCheras development that is expected to create spillover effects in the area.

Meanwhile, Lim also said Ekovest’s acquisition of Iskandar Waterfront City Bhd, if successful, would put the former in a higher growth gear, as it offers larger landbank.

In order to complete the takeover exercise, Ekovest needs its minority shareholders’ approval.

PIC By ZULFADHLI ZULKIFLI Chief Secretary to the government Tan Sri Dr Ali Hamsa launching the new elevated U-turn at EkoCheras yesterday. With him are (from left) Ekovest Bhd managing director Tan Sri Lim Keng Cheng and chairmanTan Sri Lim Kang Hoo.