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23rd December, 2008
KUALA LUMPUR: Property developer Ekovest Bhd has submitted tenders for projects worth between RM3 billion-RM5 billion in Malaysia, said its executive vice chairman, Datuk Lim Kang Hoo.
“Most of the tenders are for government related projects,” he told reporters after the company’s annual general meeting yesterday.
Ekovest has an orderbook worth RM600 million including the new phase of Universiti Malaysia Sabah and two contracts with Kolej Universiti Institut Teknologi Tun Hussein Onn.
Lim said the ongoing projects are expected to sustain the group’s operations for three years.
On overseas projects, he said the company was already in talks with potential joint venture parties, for property development in Vietnam and Indonesia.
“We are looking for places close by for such ventures. We think this is the right time to look into it, especially when prices are falling,” he explained.
Ekovest, ventured into India through a highway development project three years ago.
Commenting on the proposed mixed development exercise in respect of the Danga Bay Waterfront City Development, which had been aborted due to the unfavourable equity market conditions, Lim said the company was still exploring measures on how to participate in it.
At this juncture, Ekovest he said, was considering a joint venture with other parties or through direct investment.
The company, last year took over Danga Bay Holdings Sdn Bhd for RM1.1 bilion.
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