• Appointed as main contractor to build Hap Seng Star Mercedes-Benz Autohaus at Setia Alam, Selangor 
• Latest award brings Group’s new wins to-date to RM953.9 million

Kuala Lumpur, Malaysia, 14 November 2019 – Construction services firm GDB Holdings Berhad (GDB, GDB控股有限公司, Bloomberg: GDB:MK, Reuters: GDBH.KL) continued its contract-winning streak year-to-date, securing a RM67.9 million contract to undertake construction works as main contractor for the Hap Seng Star Mercedes-Benz Autohaus at Setia Alam, Selangor.

The construction work of the 3S (sales, service and spare parts) Autohaus comprises one seven-storey block, which consists of a ground floor and six storeys with two mezzanine floors, as well as a rooftop. The development will feature amongst others, a car showroom, car service workshop, car receiving bay, office space, training rooms and car parks.

GDB’s wholly-owned subsidiary Grand Dynamic Builders Sdn Bhd was awarded the contract by Hap Seng Land Development (Puchong) Sdn Bhd, a wholly-owned subsidiary of Hap Seng Consolidated Berhad (Hap Seng). This is GDB’s third contract win from Hap Seng, following secured contracts to build the 22-storey Hyatt Centric hotel in Kota Kinabalu, Sabah in early November 2019, and the 26-storey Menara Hap Seng 3 in Kuala Lumpur City Centre in 2017.

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

“With our proven track record of building high-rise and high-end residential and commercial developments, we are now continuing to be entrusted by major project owners with delivering other high-specification buildings.

This bodes well for the Group’s prospects in securing new jobs in this space, in light of potentially increasing demand from multinational and local corporations establishing or expanding their business operations in Malaysia’s stable environment in light of trade tensions.

With this new contract, we have secured new jobs worth RM953.9 million year-to-date. Together with GDB’s order book as at 30 June 2019, our outstanding order book stands at approximately RM1.3 billion to be recognized over the next three years.”

The duration of the contract will be for 15 months, with commencement date on
28 November 2019 and scheduled completion date on 27 February 2021. The contract is expected to contribute positively towards the future earnings of GDB for the duration of the contract.

The Group’s other ongoing projects are the AIRA Residence in Damansara Heights, Menara Hap Seng 3 within the Kuala Lumpur city centre, Perla Ara Sentral in Ara Damansara, Park Regent in Desa ParkCity as well as the recently secured piling and substructure works for Aviary Residence in Puchong Horizon. Meanwhile, the Hyatt Centric Hotel in Kota Kinabalu project is in the midst of entering into a formal Letter of Award for the contract works upon the finalisation of Bills of Quantities and awarded contract value.

The Hap Seng Star Mercedes-Benz Autohaus at Setia Alam, Selangor embraces the Mercedes-Benz’s new brand identity, MAR2020. The development will also be equipped with state-of-the art facilities, the complete range of Mercedes-Benz special tools and Service Differentiation, every Mercedes-Benz fan and customer can expect a seamless experience in sales, financial services and aftersales.

—

About GDB Holdings Berhad (www.gdbhb.com.my)

Established since 2013, GDB has two subsidiaries, namely 100%-owned Grand Dynamic Builders Sdn Bhd (GDBSB) and 70%-owned GDB Geotechnics Sdn Bhd (GDB Geotechnics), formerly known as Eco Geotechnics Sdn Bhd.

GDBSB is an integrated construction group that are specialised in building sizable high-rise construction projects, with emphasis on environment, quality, and safety. GDBSB is equipped with multiple certifications such as ISO 9001:2015 Quality Management System, ISO 14001:2015 Environmental Management System, and OHSAS 18001:2007 Occupational Health and Safety Management System. GDBSB has also obtained the QLASSIC, CONQUAS, BQUAS, SHASSIC, and Green 5-S programme certifications for its various projects.

On top of that, GDBSB is registered with the Construction Industry Development Board (CIDB) of Malaysia as a Grade G7 contractor, which allows GDBSB to tender for projects with unlimited value in the categories of general building, general civil engineering, and mechanical works. GDBSB also obtained the Sijil Perolehan Kerja Kerajaan as a Grade G7 contractor that enables it to participate in tenders for Government projects with contract value of RM10.0 million and above.

Its 70%-owned subsidiary, GDB Geotechnics, extends the Group’s in-house capabilities to include geotechnical and foundation engineering works. This comprises bored, caisson and micro piling solutions, diaphragm walls, earth retaining systems, soil treatment, earthworks, basement works as well as general construction.

GDB Geotechnics also holds a Grade 7 License from the CIDB of Malaysia.

Issued for and on behalf of GDB HOLDINGS BERHAD by Aquilas Advisory (Malaysia). For media enquiries, please contact:
Ms. Julia Pong                  julia@aquilas.com.my   T: +603- 27111391 / +6012-3909 258
Mr. Hanif Kamarudin        hanif@aquilas.com.my  T: +603-2711 1391 / +6011-2380 6132