KUALA LUMPUR (Feb 21): ACE Market-listed construction services outfit GDB Holdings Bhd expects to transfer its listing to the Main Market of Bursa Malaysia by the first half of 2020 after receiving the nod from shareholders.

In a statement today in conjunction with its extraordinary general meeting, GDB group managing director Cheah Ham Cheia said the plan to graduate to the Main Market within just two years of its ACE Market listing reflects its larger scale of operations now.

“Over the past 12 months, the group has grown from strength to strength and achieved notable milestones, including winning our highest number of contracts in a single financial year despite the sector doldrums, entering new segments to construct industrial and hospitality buildings and completing our first acquisition to widen our scope of expertise.

“Backed by a growth-centric mindset, the group aims to replenish our existing order book with an additional RM750 million worth of new projects in 2020, which is 50% higher than last year’s target,” he said.

At the midday break today, GDB was unchanged at 76 sen, valuing it at RM475 million.