GDB SECURES RM135.0 MILLION CONTRACT FOR ARA DAMANSARA MIXED DEVELOPMENT [PRESS RELEASE]

  • Appointed as principal works contractor by Trans Resources Corporation Sdn Bhd (“TRCSB”) to undertake main builder’s works
  • New contract adds to order book of RM537 million as at 28 February 2019

Selangor, Malaysia, 27 March 2019 – Construction services firm GDB Holdings Berhad (GDB, GDB控股有限公司, Bloomberg: GDB:MK, Reuters: GDBH.KL)announced today that it had been appointed as the Principal Works Contractor by TRCSB to undertake main builder’s works, with contract value of RM135.0 million, encompassing architectural, civil and structural, and mechanical and electrical works, for a mixed development located in Ara Damansara, Petaling Jaya.

The first phase of the mixed development, a joint-venture development between Prasarana Malaysia Berhad and ADS Projek Sdn Bhd (“ADS”), comprises two blocks of 18-storey residential serviced apartments on an 8-storey podium which consist of a 7-storey car park (1-storey car park for park and ride) and 1-storey related facility on top of the podium. The mixed development in Ara Damansara is strategically located at the Ara Damansara light-rail transit (LRT) station. TRCSB is the appointed Main Contractor for this project, and both ADS and TRCSB are wholly-owned subsidiaries of TRC Synergy Berhad.

The duration of the contract will be for 30 months, with commencement date on 16 April 2019 and scheduled completion date on 15 October 2021. The contract is expected to contribute positively towards the future earnings of GDB for the duration of the contract.

Read the full press release here.