KUALA LUMPUR (June 16): Construction services firm GDB Holdings Bhd is tendering for RM2.8 billion worth of building construction and piling projects throughout Malaysia.
In a statement, GDB said its construction tender book as at today amounted to RM2.4 billion, comprising residential, mixed developments and offices.
Meanwhile, the group’s piling and substructure segment, via its subsidiary GDB Geotechnics Sdn Bhd, had tendered for approximately RM400 million worth of jobs as at today, it said.
GDB group managing director Cheah Ham Cheia said the group was hard at work to mitigate the impact of containment measures against the Covid-19 pandemic and remained buoyant about the group’s long-term prospects.
He said the group continued to see a steady stream of building works in various segments despite the doldrums and uncertain domestic economic conditions.
“This showcases the resilient outlook of project owners for a swift and eventual recovery of the construction sector and the nation’s economic landscape.
“Additionally, we also believe the government’s fiscal and monetary stimulus packages such as the real property gains tax (RPGT) exemption, Home Ownership Campaign (HOC) 2020 and lower interest rates would undoubtedly spur the lacklustre property development industry and in turn reactivate private sector-driven construction projects.
“As such, GDB is well positioned to capture these opportunities on the back of not only our growing project portfolio and expertise, but also our enhanced profile as a newly minted Main Market-listed organisation,” he said.
At the midday break, GDB had risen 1.85% or one sen to 55 sen, valuing it at RM343.75 million.