June 15, 2010, page B7
NAZA Group of Companies plans to grow its construction arm and take it overseas to bid for high margin building and infrastructure projects, said NAZA TTDI Sdn Bhd Group MD S.M. Faliq S.M. Nasimuddin.
Faliq said construction is more challenging as compared with automotive and property development and he is far more confident that his construction division will grow in time to come.
"We have the key people in the company. There is a lot that our construction arm can do," Faliq said.
Is construction business so lucrative and profitable? Go asked those contractors ...
WCT suffered massively when the RM4.6 billion Nad Al Sheba Dubai Racecourse project in Dubai was terminated. The project is a JV between WCT and Arabtec, an Emirates-based construction company. It was awarded as a build-only contract from Meydan for the construction of main building works, external works and infrastructure works in September 2007.
UEM suffered massively in it's Qatar Highways - Salwa International Road - 1st Phase project. Qatar PWO is seeking QR878,318,972.06 (which is approx. RM850 million) from UEM.
Oh, we should not forget about Sime Darby Engineering's RM1.3b losses in Qatar Oil and Bakun cost overrun (Read here: Dato Salleh's Brickwall and Big Dog's Scandal )
In 1998 we saw the demise of super construction giants such as Pilecon Bhd, Promet, Ekran and Ting Pek King, Soh Chee Wen and his group of companies, Soo Tian Chai and his group of companies such as Mancon Bhd, Anson Perdana Bhd, Robert Chuan and his Eden Bhd and Sriwani Bhd, Cygal Bhd, Bestworld, Esprit Bhd and many other 1st Board 2nd Board listed companies.