GDB lands RM247m contract to design and build logistic hub [The Edge Markets]

KUALA LUMPUR (Dec 22): GDB Holdings Bhd has secured a RM247 million design-and-build contract to construct a logistic hub in the Bandar Bukit Raja 2 Industrial Park in Klang.

In a statement on Thursday (Dec 22), the company said its unit Grand Dynamic Builders Sdn Bhd (GDBSB) had accepted a letter of award dated Dec 19 from SDPLOG 1 (Industrial Asset I) Sdn Bhd, a wholly owned subsidiary of SDPLOG 1 (MY Holdings) Sdn Bhd and established under the Sime Darby Property – LOGOS Property Industrial Development Fund 1 LP.

GDB said the industrial development fund is managed by SDPLOG – IDF 1 GP Pte Ltd, a wholly owned subsidiary of SDPLOG – IDF 1 (JV Holdings) Pte Ltd, a joint venture between Sime Darby Property Bhd and LOGOS SE Asia Pte Ltd. It said GDBSB’s scope as the main contractor includes design and construct piling and substructure works, as well as superstructure, architectural, mechanical and electrical works.

The company said GDBSB would undertake these works for a two-storey ramped-up warehouse with the mezzanine level at each floor, a staff cafeteria facility, a show gallery, security guardhouses, a refuse chamber and an electrical substation. The 21-month contract is slated to commence on Dec 29, with targeted completion on Sept 28, 2024.

GDB group managing director Cheah Ham Cheia said the contract would strengthen its track record in delivering a vast array of buildings from high-rise residential and commercial buildings to now include industrial properties.

Also, this new win has boosted our outstanding current order book to RM1.3 billion, which should sustain us until 2024,” he said.

At the midday break on Thursday, GDB had risen 4% or one sen to 26 sen a share, with 1.15 million shares traded.