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.
The company said its current construction tender book amounts to RM2.4 billion, comprising residential, mixed development and offices.
Meanwhile, the group’s piling and substructure segment via its subsidiary, GDB Geotechnics Sdn Bhd has tendered for approximately RM400 million worth of jobs as of June 16, 2020.
Group managing director Cheah Ham Cheia said GDB is working hard to mitigate the impact of containment measures of COVID-19 pandemic and remains buoyant of its long-term prospects.
“We continue to see a steady stream of building works in various segments despite the sector doldrums and uncertain domestic economic conditions.
“This showcase the resilient outlook by project owners on the swift and eventual recovery of the construction sector and the nation’s economic landscape,” he said in a statement today.
Additionally, Cheah also believe the government’s fiscal and monetary stimulus package such as real property gains tax (RPGT) exemptions, Home Ownership Campaign (HOC) 2020 and lowering interest rates would undoubtedly spur the lacklustre property development industry and in turn would reactivate private-sector driven construction projects.
For the short-term, the group opines that its mammoth order book of RM1.2 billion will cushion the temporary impact of the containment measures of the pandemic.
GDB’s order book comprises major undertakings including its single-largest contract of RM517 million for the 54-storey Park Regent in Desa ParkCity, 5-star Hyatt Centric hotel in Kota Kinabalu, Hap Seng Star’s Mercedes-Benz Autohaus in Setia Alam and Aviary Residence in Puchong Horizon.
— BERNAMA