GDB AIMS TO EXPAND ORDER BOOK IN FY2018 (PRESS RELEASE – 23RD MAY 2018)

  • Currently tendering for more than RM1.4 billion worth of new high-rise construction projects in Klang Valley
  • Order book stood at RM808.7 million to be recognized until 2020
  • Posts net profit of RM6.6 million in 1Q18

Selangor, Malaysia, 23 May 2018 – Construction services firm GDB Holdings Berhad (GDB, the Group, GDB控股有限公司) is targeting to secure new projects in the Klang Valley in the current financial year ending 31 December 2018, which would strengthen its order book and growth outlook.

The Group is currently tendering for more than RM1.4 billion worth of new high-rise construction projects in the Klang Valley from various prominent developers and project owners.

GDB’s order book stood at a healthy level of RM808.7 million as at 31 March 2018, to be recognized until the third quarter of the financial year ending 31 December 2020. The Group’s ongoing projects are Westside III in Desa ParkCity, Etiqa Office Tower along Jalan Bangsar, AIRA Residence in Damansara Heights, and Menara Hap Seng 3 within the Kuala Lumpur city center.

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

“Our enhanced profile through being a listed entity on Bursa Malaysia positions us favourably, as we aim to secure new projects in FY2018. We are positive that our vast technical expertise and track record in completing high-rise and high-value buildings ahead of contractual completion dates puts us on a strong footing, as they are key strengths that are appreciated by major project owners.

Furthermore, we are targeting to expand the breadth of our construction jobs beyond our existing concentration in high-rise residences and office buildings. To this end, our ongoing tenders include a hotel and convention center, which are sizable projects to broaden our scope of expertise.”

Read the full press release here.