Megawide economic turn attributed to construction arm

    In every crisis, an opportunity seems to hold true for Megawide Construction Corporation as it has announced to have recovered from the impact of the COVID-19 pandemic in the first three months of 2021.
    The company attributed it mainly to its construction segment as it pivots towards public infrastructure projects.

    MANILA — “We hope to offer our expertise and wide array of solutions in this fast-growing infrastructure space, whether as an engineering contractor, a service or product provider, or both, to maximize our exposure and generate more business,” says Megawide chairman and CEO Edgar Saavedra.

    Megawide claims its net income attributable to equity holders reached ₱2.9 million while consolidated revenues reached ₱3.72 billion “signaling its return to a healthier performance.”

    “We will also continue to be active in the residential and commercial and industrial segments to further expand our presence once the economy recovers,” Saavedra added.

    Its construction segment generated ₱3.42 billion and delivered a net income of ₱168 million or 21 percent higher compared to the same period last year.

    Megawide says it is capitalizing on advanced pre-cast technology, vertically integrated platforms in construction, and other support services to drive performance. The company is also shifting its focus on public infrastructure projects.

    Saavedra says Megawide is “very excited” to bid for the Metro Manila Subway System and the North-South Commuter Railway–South Line this year. The company is currently working on the Malolos-Clark Railway Project (MCRP). (JD/The MiNT)


    Featured image: Architectural render of Malolos-Clark railway project by Megawide Construction Corporation. Image credit: MCC

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