KUALA LUMPUR: Growth, expansion, and transformation echo the imperative mantra to fulfill the world's pressing need for diverse projects, spanning from modernised factories to energy-efficient, smart, innovative office complexes, residences, transportation systems, and renewable-energy projects.
However, amidst this fervor, navigating the competitive bidding landscape poses a formidable challenge. Identifying overseas projects and the bidding process are tall orders.
Competing against numerous other bidders among Malaysian companies each vying for the same projects, demands a strategic approach laden with severe competition, according to Tan Sri AK Nathan, the founder of the Eversendai Group of companies.
"Every country has its own norms on how to do business, and at times some do not take proactive actions to learn and understand the business norms of doing business as each country has its own local requirements.
"The tendency to make errors overseas is there and could be very costly and, at times, detrimental. However, every mistake teaches lessons to be learned to instill self realisation, otherwise, I would not have developed and grown to become what I am today," Nathan told Business Times.
Crafting bid estimates entails grappling with myriad unknown variables, necessitating assumptions and contingency planning that can profoundly impact the bid's success.
Often, companies plunge into the bidding fray with inadequate insight, only to confront stark realities deviating from initial perceptions despite meticulous preparation, and disappointment may ensue when a competitor clinches victory despite one's considerable investment of effort.
"Every country has its own challenges. My advice to companies seeking overseas projects is to do their homework thoroughly on how to tender with profits and execute projects successfully, dealing with local issues smartly. The top management must be hands on and should make regular visits to monitor progress with trusted, competent staff with integrity. Failures and setbacks are only temporary defeats. My deep rooted strength is the result of the difficulties and painful life journeys I have endured," Nathan said.
Eversendai specialises in turnkey contracts and has delivered a wide range of projects, including high-rise buildings, composite structures, infrastructure, power plants, and process plants across Asia, the Middle East, and Europe.
The company has constructed some of the world's tallest and largest structures, which are iconic landmark structures, including Burj Khalifa in Dubai, Petronas Tower 2, Merdeka 118 in Malaysia, Khalifa Olympic Stadium, Hamad International Airport in Qatar, Kingdom Centre, PIF Tower in Saudi Arabia, and Republic Plaza in Singapore.
Nathan got involved in the steel industry just after the tender age of 25. He made his entry into the construction business in 1982 by chance when he secured the services of a subcontractor to execute the temporary steel platform works for the Dayabumi project in Kuala Lumpur. It was in 1983 that Nathan made a breakthrough in the industry through the Malaysian National Car Plant (Proton Factory) project, which was secured from Nippon Steel Corp.
In 1984, Nathan founded Eversendai, which became Asia's leading integrated structural steel turnkey contractor with strong structural design, engineering fabrication, and construction.
Eversendai has since earned a formidable reputation in the construction industry; being one of the most sought after structural steel companies in the world with remarkable high profile projects, most of which are the landmarks of a country.
Utilisation rates across all seven of the company's seven steel fabrication factories are expected to reach full utilisation capacity from the 3rd quarter of 2024 onwards, as it has and will secure more projects going forward.
The state-of-the-art fabrication yards are located in Malaysia, Singapore, Dubai, Sharjah, Ras al Khaimah, Qatar, and India, with an annual capacity of 200,000 tonnes plus.
"I am very passionate about my work and Eversendai. My enthusiasm stems from my commitments to my clients, employees, stakeholders, and achievements, as well as my will to succeed in overcoming all obstacles.
"Problems, challenges, and difficulties come and go. I always stay positive, looking ahead with belief, confidence, motivation, determination, persistence, perseverance, and discipline to achieve my ultimate goal of prevailing. I have instilled the never give up attitude until it is completely impossible," Nathan said.
Nathan said that understanding the inherent challenges and adopting effective strategies and insights becomes paramount to securing victory in this competitive arena. Striking a balance between competitive pricing and profitability emerges as pivotal .
"Giving up is very easy, but succeeding is really difficult. Success is not something that comes easily, and it is a huge mountain to climb. Like the steel, I have moulded myself through the challenges I faced in order to succeed in my business," Nathan said.
