PETALING JAYA: GDB Holdings Bhd revealed that it is tendering for RM2.8 billion worth of building construction and piling projects throughout Malaysia.
The group’s piling and substructure segment through its subsidiary GDB Geotechnics Sdn Bhd has tendered for approximately RM400 million worth of jobs as of today.
GDB’s construction tender book as at June 16 amounts to RM2.4 billion, which comprises residential, mixed development and offices.
Group managing director Cheah Ham Cheia (pix) said the group is hard at work to mitigate the impact of containment measures of Covid-19 pandemic and remained buoyant of its long-term prospects.
“We continue to see a steady stream of building works in various segments despite the sector doldrums and uncertain domestic economic conditions. This showcase the resilient outlook by project owners on the swift and eventual recovery of the construction sector and the nation’s economic landscape.
“Additionally, we also believe the government’s fiscal and monetary stimulus package such as real property gains tax exemptions, Home Ownership Campaign 2020 and lowering interest rates would undoubtedly spur the lacklustre property development industry and in turn would reactivate private-sector driven construction projects,” he said in a statement after GDB’s annual general meeting today.
For the short term, Cheah opined that its order book of RM1.2 billion cushion the temporary impact of the containment measures of the Covid-19 pandemic.
GDB’s order book comprises major undertakings including its single-largest contract of RM517 million for the 54-storey Park Regent in Desa ParkCity, the tallest building in Desa Park; the group’s first project in East Malaysia through the 5-star Hyatt Centric hotel in Kota Kinabalu, Sabah; the group’s first automotive sector building via Hap Seng Star’s Mercedes-Benz Autohaus in Setia Alam; and the group first’s piling and substructure works for Aviary Residence in Puchong Horizon.
source https://www.thesundaily.my/business/gdb-tendering-for-projects-worth-rm28-billion-in-malaysia-NC2589834
No comments:
Post a Comment