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Business

Megawide eyes more infra deals

Iris Gonzales - The Philippine Star

MANILA, Philippines — Megawide Construction Corp., the listed engineering company, is eyeing to win more infrastructure deals such as the Metro Manila Subway and the North-South Commuter Rail-South Line as it aims to strengthen its business portfolio.

The company has so far participated in over P100 billion worth of government infrastructure projects.

These include airports, classrooms, transport exchanges and railway systems.

Megawide secured awards for big ticket projects such as the Mactan-Cebu International Airport, construction of the Clark International Airport, the Paranaque Integrated Terminal Exchange, and the Public-Private Partnership for School Infrastructure Project. It is also a consortium member in the construction of the Malolos-Clark Railway Project Package 1.

“We believe that infrastructure will help the economy recoup from the adverse effects of the pandemic. As a strong government partner, Megawide strives to support economic growth through infrastructure development and job creation,” said Megawide chairman Edgar Saavedra.

Because of its track record in infrastructure, Megawide was voted the Most Outstanding Company in the Philippines for the Construction and Engineering Sector in Asiamoney’s recently concluded Outstanding Companies Poll for 2021.

Asiamoney Editor, Rashmi Kumar said Megawide was a clear frontrunner in the poll given its track record of being a resilient organization even during the COVID-19 crisis.

Over 1,071 fund managers, analysts, bankers and ratings agencies participated in the survey, which ran from May 24 to July 16, 2021.

Over 5,787 votes were cast for publicly-listed companies across 13 markets in Asia with the winners of each category decided by the number of verified votes each company received, subject to a minimum vote count.

Asiamoney designed the poll to “acknowledge listed companies that have excelled in areas such as financial performance, management team excellence, investor relation activities and corporate social responsibility (CSR) initiatives.”

“Being named as the Most Outstanding Company in the Philippines for the Construction and Engineering Sector for 2021 is a humbling achievement that encourages us to relentlessly pursue our vision of Engineering a First World Philippines,” he said.

Megawide also previously won in the Asiamoney Polls. In 2013 and 2014, the company was voted as the Best Managed Company in the Philippines for the Small Cap category.

Saavedra established Megawide in 1997, a year after graduating from college.

It grew from a mid-sized construction firm to become a listed engineering company.

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