GDB tendering for projects amounting to RM2.9 billion [PRESS RELEASE]

  • Bidding for 12 projects comprising residential and commercial buildings in Klang Valley;
  • Aiming to boost RM619.1 million order book as at 31 March 2019

Selangor, Malaysia, 13 June 2019 – Construction services firm GDB Holdings Berhad (GDB, the Group, GDB控股有限公司) today revealed that it is tendering for RM2.9 billion worth of projects comprising residential and commercial buildings in Klang Valley.

The Group’s current tender book consists of 12 projects in Klang Valley, namely buildings for residential, mixed development, hotel, factory and sales gallery.

Speaking at the 6th Annual General Meeting today, GDB’s Managing Director, Mr. Cheah Ham Cheia said that GDB was buoyant of its prospects in the financial year ending 31 December 2019 (FY2019) on the back of its strong track record for works completion ahead of schedule and high quality ratings.

In financial year ended 31 December 2018 (FY2018), GDB has successfully delivered Etiqa Office Tower on 13 July 2018 and Westside III on 20 October 2018. Both projects were completed ahead of schedule and achieved 5-star rating with score above 90% from Construction Industry Development Board of Malaysia (CIDB) in Safety and Health Assessment System in Construction (SHASSIC).

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

“FY2019 has seen gradual improvement in tender activity for the construction of various buildings, reflecting project owners’ recovering sentiment in the sector.

On top of that, we also believe that our consistent track-record in delivering projects ahead of schedule as exemplified with our recent completions places us in a favourable position to secure new contracts.

To that end, we are continuously pursuing new contracts in a bid to bolster our order book of RM619.1 million as at end-March 2019.”

GDB’s order book consists of three on-going projects, namely AIRA Residence in Damansara Heights, Menara Hap Seng 3 within the Kuala Lumpur city centre, and the recently-secured Perla Ara Sentral, Ara Damansara.

GDB started 2019 on a positive note by winning a RM135.0 million contract from TRC Synergy Berhad to construct Perla Ara Sentral in Ara Damansara, which comprises two blocks of 18-storey residential serviced apartments on an 8-storey podium consisting of 7-storey car park. The 30-month contract is scheduled for completion on 15 October 2021.

The Group’s order book would last till financial year ending 31 December 2021.