- Appointed as main contractor to build 5-star Hyatt Centric hotel in Kota Kinabalu, Sabah
- Latest award brings Group’s new wins to-date to RM865.3 million
Kuala Lumpur, Malaysia, 7 November 2019 – Construction services firm GDB Holdings Berhad (GDB, GDB控股有限公司, Bloomberg: GDB:MK, Reuters: GDBH.KL) secured its first contract in East Malaysia to build the Hyatt Centric hotel in Kota Kinabalu, Sabah for a provisional contract value of RM213.3 million.
The Group, via its wholly owned subsidiary Grand Dynamic Builders Sdn Bhd, executed the Letter of Intent (LOI) from Sunhill Ventures Sdn Bhd, a wholly-owned subsidiary of Hap Seng Consolidated Berhad (Hap Seng), to undertake construction works for the 5-star Hyatt Centric hotel.
The 22-storey development features 222 guestrooms, and will cater to adventurous, leisure and business guests as a convenient gateway of access to the commercial district, shopping mall, restaurants as well as other local attractions in Sabah and Borneo.
The latest award is GDB’s second contract won from Hap Seng, having
26-storey Menara Hap Seng 3 in Kuala Lumpur City Centre in 2017.
Mr. Cheah Ham Cheia (谢汉正), Group Managing Director of GDB Holdings Berhad said:
“This award extends our reach to East Malaysia and further solidifies our place as one of the leading high-rise builders in the country. Having done multiple iconic projects, we are honoured to be tasked to build the first Hyatt Centric hotel in Malaysia in the heart of Kota Kinabalu.
Not only that, we are also heartened by the continued vote of confidence by Hap Seng to deliver yet another world-class building. Furthermore, as the Group’s first hotel undertaking, this development showcases our diverse skillset in constructing a vast array of quality buildings.
With this new contract, we have secured new jobs worth RM865.3 million year-to-date. Together with GDB’s order book as at 30 June 2019, our outstanding order book stands at approximately RM1.2 billion to be recognized over the next three years.”
The duration of the contract will be for 22.5 months, with commencement date on
2 January 2020 and scheduled completion date on 16 November 2021. The parties shall enter into a formal Letter of Award for the contract works upon the finalisation of Bills of Quantities and awarded contract value.
The Group’s other ongoing projects are the AIRA Residence in Damansara Heights, Menara Hap Seng 3 within the Kuala Lumpur city centre, Perla Ara Sentral in Ara Damansara and Park Regent in Desa ParkCity.
In line with best-in-class standards of Hyatt and Hap Seng, the Hyatt Centric Kota Kinabalu was designed by world-renowned Japanese architect, Kengo Kuma. His design took inspiration from the lush green hills and blue ocean surrounding the hotel.
The hotel will feature an all-day lounge and restaurant, more than 1,900 square ft of meeting space, a rooftop swimming pool and bar with views of the South China Sea, and a fitness centre.
About GDB Holdings Berhad (www.gdbhb.com.my)
Established since 2013, GDB has two subsidiaries, namely 100%-owned Grand Dynamic Builders Sdn Bhd (GDBSB) and 70%-owned GDB Geotechnics Sdn Bhd (GDB Geotechnics), formerly known as Eco Geotechnics Sdn Bhd.
GDBSB is an integrated construction group that are specialised in building sizable high-rise construction projects, with emphasis on environment, quality, and safety. GDBSB is equipped with multiple certifications such as ISO 9001:2015 Quality Management System, ISO 14001:2015 Environmental Management System, and OHSAS 18001:2007 Occupational Health and Safety Management System. GDBSB has also obtained the QLASSIC, CONQUAS, BQUAS, SHASSIC, and Green 5-S programme certifications for its various projects.
On top of that, GDBSB is registered with the Construction Industry Development Board (CIDB) of Malaysia as a Grade G7 contractor, which allows GDBSB to tender for projects with unlimited value in the categories of general building, general civil engineering, and mechanical works. GDBSB also obtained the Sijil Perolehan Kerja Kerajaan as a Grade G7 contractor that enables it to participate in tenders for Government projects with contract value of RM10.0 million and above.
Its 70%-owned subsidiary, GDB Geotechnics, extends the Group’s in-house capabilities to include geotechnical and foundation engineering works. This comprises bored, caisson and micro piling solutions, diaphragm walls, earth retaining systems, soil treatment, earthworks, basement works as well as general construction.
GDB Geotechnics also holds a Grade 7 License from the CIDB of Malaysia.
for and on behalf of GDB HOLDINGS BERHAD by Aquilas Advisory (Malaysia). For
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