GDB Holdings lifts suspension on 8 Conlay project [New Straits Times]

KUALA LUMPUR: Construction services firm GDB Holdings Bhd has lifted its suspension of works
on the 8 Conlay project.

In a statement, the company said it is set to resume facade works for Tower A pursuant to the
terms of agreement and the supplementary correspondences, based on the employer’s
instruction issued to the architect for the forthcoming issuance of Architect’s Instruction
under Clause 21.4 of the Persatuan Arkitek Malaysia (PAM) Contract.

This was following the receipt of partial payment towards outstanding sums owed by project
owner Damai City Sdn Bhd (Damai City) today.

GDB is the main contractor for 8 Conlay across its three towers.

The company will proceed to remobilise and recommence for the full scope of works for the 8
Conlay project in early April 2023, subject to Damai City fulfilling the agreed terms and
scheduled full settlement of outstanding sums.

Group managing director Cheah Ham Cheia said the company is committed to delivering high
quality products for clients and also in ensuring the mutual wellbeing of stakeholders
including its subcontractors.

“With the requisite conditions fulfilled and uplifting of suspension of works together with the
forthcoming issuance of the Architect Instruction, we will remobilise and recommence fa├žade
works for Tower A of 8 Conlay pursuant to the terms of agreement.

“We aim to continue reinforcing our track record for premium high-rise buildings, while at the
same time creating sustainable value for our shareholders,” said Cheah.
GDB’s current order book amounts to RM1.3 billion, which provides earnings visibility until the
financial year ending December 31, 2024.

This outstanding order book consists of construction works for Park Regent at Desa ParkCity
and 8 Conlay in Jalan Conlay, Kuala Lumpur City Centre, as well as the newly-secured design and build contract to construct a Logistic Hub located in Bandar Bukit Raja 2 Industrial Park in Klang, Selangor for SDPLOG 1 (Industrial Assets I) Sdn Bhd (formerly known as Sime Darby Property (Industrial Asset I) Sdn Bhd).