GDB secures first piling and substructure contract following acquisition GDB Geotechnics [Press Release]

  • RM20.67 million contract awarded for Aviary Residence @ Puchong Horizon
  • 21 month works encompass piling and substructure works for 2-block serviced apartments

Kuala Lumpur, Malaysia, 14 November 2019 – Construction services firm GDB Holdings Berhad (GDB, GDB控股有限公司, Bloomberg: GDB:MK, Reuters: GDBH.KL), via its newly acquired 70%-owned subsidiary GDB Geotechnics Sdn Bhd (GDB Geotechnics), secured a RM20.67 million contract from Hua Yang Berhad’s wholly-owned subsidiary, Bison Holdings Sdn Bhd, to undertake piling and substructure works for Aviary Residence @ Puchong Horizon.  

The contract entails bored piling and pile caps for two blocks of serviced apartments comprising, a 36-storey 565-unit Tower 1 and 37-storey 337-unit Tower 2. The development will also include a common facilities podium as well as a six-storey car park.

The overall duration of the contract is for v the date of possession of site on 18 November 2019 and expected to contribute positively to the Group for the duration of the contract.

Mr. Cheah Ham Cheia (谢汉), Group Managing Director of GDB Holdings Berhad said

“To win this contract in less than 2 months since GDB’s completion of the acquisition showcases the strong value proposition of being an enlarged group that is capable of offering integrated construction service.

The Group’s new wins stands at RM885.97 million in the current year to date. Moving forward, we are buoyant on securing more substructure jobs, as we seek to continue leveraging on GDB Geotechnics’ track-record and our leading position within the high-rise construction space.”

On 1 October 2019, GDB completed the acquisition of 70% controlling stake in GDB Geotechnics (formerly known as Eco Geotechnics Sdn Bhd), a construction contractor specialising in geotechnical and foundation engineering works, for purchase consideration of RM5.96 million.

GDB Geotechnics’ past projects include works for Tropicana Garden, Sunway Velocity, Tropicana underpass tunnel along Persiaran Surian, Sunway South Quay, Horizon Tower in Bangsar, One South in South City, as well as jobs for Mass Rapid Transit (MRT) line 1 and Light Rapid Transit (LRT) 2. GDB Geotechnics has also completed the first deep basement project in Melaka.

Coupled with the Group’s outstanding order book as at 30 June 2019, GDB’s total outstanding order book stood at approximately RM1.2 billion and will provide revenue contribution till financial year ending 31 December 2022.

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. Meanwhile, the Hyatt Centric Hotel in Kota Kinabalu project is in the midst of entering into a formal Letter of Award for the contract works upon the finalisation of Bills of Quantities and awarded contract value.

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.

Issued for and on behalf of GDB HOLDINGS BERHAD by Aquilas Advisory (Malaysia) Sdn Bhd. For media enquiries, please contact:
Ms. Julia Pong                  julia@aquilas.com.my    T: +603- 27111391 / +6012-3909 258
Mr. Hanif Kamarudin         hanif@aquilas.com.my   T: +603-2711 1391 / +6011-2380 6132

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