Gamuda Wins Euromoney Award

KUALA LUMPUR, Jan 8 (Bernama) -- Gamuda Bhd has won Euromoney's 'Best Managed and Governed Company in Asia 2008' award for construction services.

In a statement here Tuesday, the company said the award cited it for its clear and differentiated business strategy, strong execution and delivery.

"It also commended the company for its higher dividend payout, good management accessibility and transparency in investor relations," it said.

Group managing director, Datuk Lin Yun Ling, said the award has pushed Malaysia's industry into the international limelight.

"Winning this award is ample recognition that not only Gamuda but the Malaysian construction industry in general has come of age and has the technical skills and management capability to compete anywhere in the world on challenging projects," he said.

Congratulations Gamuda!:)

Gamuda voted top construction firm in Euromoney poll

By PAULINE NG
IN KUALA LUMPUR

MALAYSIAN construction companies have come into their own in Asia, making up more than half the top 10 list of Euromoney's Best Managed and Governed Companies in Asia 2008 for construction services.

Gamuda topped the list, garnering more than double the votes of its nearest rivals, Italian-Thai Development and Larsen & Toubro, both of whom tied for second place.

A total of 125 analysts across Asia were polled. The Malaysian infrastructure and civil engineering specialist firm gained 25.81 per cent of votes, while its competitors bagged 12.9 per cent.

Polling the same number of votes - 9.68 per cent - were Hindustan Corporation and Malaysian Mining Corporation (MMC). Zelan, Industrial Concrete Products, and WCT Engineering were the other Malaysian firms which made the list.

But Gamuda was the runaway winner, with the Euromoney award citing its 'clear and differentiated business strategy, strong execution and delivery'. The magazine also commended the company for its higher dividend payout, good management accessibility and transparency in investor relations.

Only last month, Malaysia's Construction Industry Development Board awarded the MMC-Gamuda joint venture its Innovation and Environmental Award for its design and construction of the SMART Tunnel - the first dual-purpose flood mitigation and motorway tunnel in the world.

'We are delighted that our efforts in building an innovative engineering and construction business that is internationally competitive has been recognised by the leading equity analysts in the investment community,' Gamuda group managing director Lin Yun Ling said in a statement yesterday.

Mr Lin observed that the award was ample recognition that not only Gamuda, but the Malaysian construction industry in general, had come of age and has the technical skills and management capability to compete on challenging projects anywhere in the world.

The Malaysian mainboard-listed company has participated in numerous built-operate-transfer (BOT) projects. Locally, its infrastructure division manages the operations of over 100km of urban expressways, averaging some one million tolled vehicles daily. It also has a water concessionaire unit which can treat two billion litres of water daily, and supplies treated water to more than two million consumers and industries in the heavily populated Klang Valley.

It has also made a name overseas, having successfully completed the Kaoshiung MRT in Taiwan, the Nam Theun 1 hydropower project in Laos, Qatar's Dukhan Highway, and the airfield and road tunnel works for the new Doha International Airport.

At last count, its market worth topped RM10 billion (S$4.37 billion).

The 2008 award was the seventh annual ranking of the Best Managed and Governed Companies in Asia published by the London-based Euromoney. Of this year's awards, its editor Clive Horwood observed: 'From the response we received, it is clear that senior management at the leading companies in Asia are very highly regarded. This can only help them as they expand globally. Interestingly, the most respected companies seem to be ones that have had good continuity of management over many years.'

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