nehemiah

  


Text Box: Nehemiah Reinforced Soil Sdn Bhd  55-3 Jalan Cecawi PSB 6/19A,  Seksyen 6, Kota Damansara,  47810 Petaling Jaya, Selangor.    Media Contact: Stephen Ng (012-3347880 – 24 hours)

 

 

FOR IMMEDIATE RELEASE


Kuala Lumpur, 5 November, 2009 (Thurs) – Despite the economic slowdown, one specialist contractor in the local construction industry is still enjoying its highest order book in its 16 years of existence.

To date, it has completed nearly 10 % of the MMC-Gamuda double tracking project from Ipoh to Padang Besar, which is due for completion by 2011. The agreement which was inked last year will add another RM57 million into the company’s coffer.

It has also completed several other major projects namely the Duta – Ulu Kelang Highway (DUKE), Lebuhraya Kemuning – Shah Alam (LKSA), Lebuhraya Kajang – Seremban Phase 1 (LEKAS), KL – Putrajaya Highway and SMART tunnel.

According to Senior General Manager, Ir. Tan Cheng Chong, the company’s order book will help the company to keep busy for the next three years.

“We are bullish about the economic outlook for next year,” he said. “We believe the country’s economy will begin to pick up.”

He said that, with the Second Economic Stimulus Package launched this year, the company is in a very good position to benefit with its competitive pricing strategy in place. “We are very competitive in our pricing,” he said. “This has always been the cutting edge for Nehemiah.”

Nehemiah is known for its cost effective and proven technology using modular hexagonal shaped concrete panels. With this Malaysian owned patent technology, a highway ramp can be constructed in less than half of the time required to build the same ramp using the conventional reinforced concrete wall or viaduct.

Tan said that next year’s projects will include the double track from Seremban – Gemas, Iskandar Development region, Southern Klang Valley Expressway, KL – Kuala Selangor Expressway, Lebuhraya Kajang – Seremban Phase 2 and other projects coming on stream from the economic stimulus package.

For the overseas projects, General Manager, Jason Khor said the company is also making headways. “We are re-entering the India market next year,” he said. We are also bidding for some projects in Hong Kong and Australia. Other emerging markets on our radar screen include Vietnam, Sri Lanka and Bangladesh.

On the company’s listing plan, Tan added that with the current development, Nehemiah is closer towards its mid-term goal.

However, he declined to give a date for the listing. “With profitability on the uptrend, we can confirm that we are on the right track to go on the Second Board,” he said. “However, the economic conditions may not yet be that favourable for listing.”

The company has seen an organic growth of 25% growth in the past five years. While the prospects of the construction industry in general is still quite uncertain for the next two years, Nehemiah is confident that it will be able to weather the storms, while focusing on its overseas market using a Malaysian technology.

The company was founded by Dr. Nehemiah Lee, the owner of the patent for Nehemiah Wall.


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