GDB bags RM1.25 bln 8 Conlay contract [Bernama]

KUALA LUMPUR, Oct 26 — Construction services firm GDB Holdings Bhd has secured its single-largest
contract of about RM1.25 billion to complete the remaining main building works for 8
Conlay, the upscale integrated mixed development in Jalan Conlay here.

GDB said its wholly-owned unit, Grand Dynamic Builders Sdn Bhd (GDBSB) today executed a
letter of intent (LOI) with Damai City Sdn Bhd, a wholly-owned unit of KSK Land Sdn Bhd to
appoint GDBSB as the main contractor for the works within 14 days from the date of the LOI.

“The overall duration of the contract will be for 32 months, and is expected to contribute
positively towards future earnings of GDB for the duration of the contract,” it said in a joint
statement with KSK Land today.

GDB said together with GDB’s order book as at June 30, 2020, this contract win brings GDB’s
total outstanding order book to about RM2.27 billion, which will be recognised until financial
year ending Dec 31, 2023.

GDB group managing director Cheah Ham Cheia said having secured the LOI for 8 Conlay is the
pinnacle in the company’s portfolio, in light of the project’s iconic luxury and ambitious
endeavour in the city centre.

“These three high-rise blocks would be the tallest towers that we participate in, and would
showcase our extensive capabilities in carrying out technically-challenging undertakings,” he

KSK Land group chief executive officer and managing director Joanne Kua said the company is
confident that with GDB coming on board as its main contractor emphasises KSK Land’s
commitment to complete 8 Conlay at the highest standard of quality and in a timely manner,
albeit the current challenging times.

Situated between the prestigious KLCC area and the bustling Golden Triangle, 8 Conlay consists
of three towers, atop a four-storey experiential retail space.

The statement said the integrated mixed development features the first and only five-star 68
storeys high Kempinski Hotel in Malaysia and two twisted towers which are devoted exclusively
to branded serviced residences called YOO8 serviced by Kempinski.

“The branded serviced residential towers stands at 61 levels for Tower A and 56 levels for Tower
B, and these three tower blocks would be complemented by a 10-storey podium and a five-level
basement,” it said.