
UEM Group mulls jobs in Vietnam, Cambodia
By Mustapha Kamil and Shahriman Johari
Business Times, Friday, July 10, 2009
UEM Group Bhd has been offered huge projects in Vietnam and is also mulling whether to accept a contract to build a bridge in Phnom Penh, Cambodia.
The projects in Vietnam are worth a "few billion US dollars", chairman Tan Sri Dr Ahmad Tajuddin Ali said in an interview in Kuala Lumpur recently.
They are in Da Nang and Ho Chi Minh City, and work includes building an airport and a port.
"It's so big that we may have to rope in other Malaysian contractors," Tajuddin said.
The bridge project in Cambodia is worth about US$100 million (RM356 million) and UEM is in the final stages of evaluating the job.
Vietnam has been a favourite destination for Malaysian builders, with companies like SP Setia Bhd and Gamuda Bhd already having a presence as they seek to grow profits amid a slowing home market.
UEM Group has ventured abroad through its construction arm UEM Builders Bhd, mainly to countries like India and Qatar.
Tajuddin also said that UEM was confident of defending itself against a legal suit from the Qatar Public Works Organisation.
"We have received from the Qatari authorities the certificate of completion for the entire Salwa Road project. We have also got the extension of time for the job to January 31 2009," he said.
Because of this, UEM Group will not make provisions for the suit. At the same time, it also has a RM1 billion claim for work already done for the same project.
It is understood that the Qatar Public Works Organisation is seeking damages, reportedly about 878.3 million Qatari riyal (RM880 million), against design consulting engineer Parsons International Ltd, UEM and Qatar Insurance Co over work on the Salwa International Road.
UEM has been named as the second defendant in the suit, Tajuddin said.
Note: I knew it. I can feel it. Just as anticipated yesterday, I couldn't been able to sit down to write about the meeting. My appointment yesterday took me all the way till 11:00 pm and its a similar schedule today.
By Mustapha Kamil and Shahriman Johari
Business Times, Friday, July 10, 2009
UEM Group Bhd has been offered huge projects in Vietnam and is also mulling whether to accept a contract to build a bridge in Phnom Penh, Cambodia.
The projects in Vietnam are worth a "few billion US dollars", chairman Tan Sri Dr Ahmad Tajuddin Ali said in an interview in Kuala Lumpur recently.
They are in Da Nang and Ho Chi Minh City, and work includes building an airport and a port.
"It's so big that we may have to rope in other Malaysian contractors," Tajuddin said.
The bridge project in Cambodia is worth about US$100 million (RM356 million) and UEM is in the final stages of evaluating the job.
Vietnam has been a favourite destination for Malaysian builders, with companies like SP Setia Bhd and Gamuda Bhd already having a presence as they seek to grow profits amid a slowing home market.
UEM Group has ventured abroad through its construction arm UEM Builders Bhd, mainly to countries like India and Qatar.
Tajuddin also said that UEM was confident of defending itself against a legal suit from the Qatar Public Works Organisation.
"We have received from the Qatari authorities the certificate of completion for the entire Salwa Road project. We have also got the extension of time for the job to January 31 2009," he said.
Because of this, UEM Group will not make provisions for the suit. At the same time, it also has a RM1 billion claim for work already done for the same project.
It is understood that the Qatar Public Works Organisation is seeking damages, reportedly about 878.3 million Qatari riyal (RM880 million), against design consulting engineer Parsons International Ltd, UEM and Qatar Insurance Co over work on the Salwa International Road.
UEM has been named as the second defendant in the suit, Tajuddin said.
Note: I knew it. I can feel it. Just as anticipated yesterday, I couldn't been able to sit down to write about the meeting. My appointment yesterday took me all the way till 11:00 pm and its a similar schedule today.
I am rushing to put up this posting as I try to avail myself somewhere for an early morning event. After that, the Friday prayers. A rush to Putrajaya for a late afternoon do. Then, back to the venue of the morning event.
Much regret.
In the meanwhile, read the above news clipping from Business Times yesterday. Tan Sri mentioned similar things to "A Voice" that morning. That must be the reason he looked calm and confident. When asked, "How big is your problem?", his answer was, "No. We do not have any problem."
I will share with you'll Monday la. Enjoy your SFA or at least, pretend to enjoy it. Have a good weekend.
In the meanwhile, read the above news clipping from Business Times yesterday. Tan Sri mentioned similar things to "A Voice" that morning. That must be the reason he looked calm and confident. When asked, "How big is your problem?", his answer was, "No. We do not have any problem."
I will share with you'll Monday la. Enjoy your SFA or at least, pretend to enjoy it. Have a good weekend.



