UEM at a glance

UNITED Engineers (M) Bhd (UEM) was incorporated in 1966 and listed on Bursa Malaysia in 1975.  

Both UEM and its then parent, Renong Bhd, in their hey days were the “darlings” of the stock market as they were the most favoured contractors, winning most of the prized projects in the country, including the North-South Expressway privatisation project and the Malaysia-Singapore second link.  

That was its first phase of its corporate life and it was led by Tan Sri Halim Saad.  

Over-expansion and over-exposure landed it in the doldrums when it was hit by the 1997 Asian financial crisis. The group had debts close to RM20bil, representing 5% of total banking system debts.  

The Government’s investment arm, Khazanah Nasional Bhd, rescued UEM and Renong in 2001.  

UEM was subsequently delisted followed by a complex debt restructuring and asset disposal exercise. The UEM group is on a better footing now.  

That marked its second phase of its cycle and Datuk Abdul Wahid Omar led the restructuring exercise.  

On July 1, 2004, Ahmad Pardas Senin assumed the MD/CEO post. Now it is in its third cycle, which is its growth phase.