UEM Builders upbeat on profit for bridge project

UEM Builders Bhd (4855) can make "reasonable" profit from building the superstructure portion of the second Penang bridge for RM1.55 billion, its deputy chairman said.

"It's still early and material prices are still going up and down, but we think we can do it (for RM1.55 billion) ... it's reasonable," Datuk Ahmad Pardas Senin said when met by reporters yesterday.

The company had only last week agreed to build that portion after the government revised the value of the job to RM1.55 billion.

"That's the price that we had quoted. We asked for RM1.85 billion actually, but RM1.55 billion is okay," he added.
The rest of the bridge is being built by China Harbour Engineering Co Ltd. Ahmad Pardas said it is on track to be completed in 2011.