GDB tender book exceeds RM1 billion

KUALA LUMPUR: ACE Market debutant and construction services firm GDB Holdings Bhd (GDB) is optimistic of its future prospects with its strong order book and current tender book.

The group’s order book of RM854.9 million as at February 6, 2018 comprises projects such as 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.

Additionally, the group’s current tender book exceeds RM1 billion, consisting of construction works for high-rise serviced apartments, a hotel, and other commercial buildings in the Klang Valley.

GDB saw its share drop 2.5 sen to 32.5 sen at closing yesterday, being among the actively traded stocks with more than 42.3 million shares traded. It is the fourth company to be listed on the ACE Market this year. GDB recently reported unaudited group revenue of RM296.8 million and unaudited group net profit of RM22.5 million for the financial year ended 31 December 2017 (FY17), representing 7.2 per cent and 39.9 per cent jump respectively from the previous year.

GDB managing director Cheah Ham Cheia said: “Our outstanding works not only indicate clear demand for our construction services, but also provide visibility for the next two years.

“Additionally, we believe that our strong track record of early completion and adherence to quality and safety places us in a favourable position when bidding for new contracts.

“Hence our listing on Bursa Malaysia Securities Bhd is timely to elevate our profile and raise funds for capital expenditure to enhance our capabilities and capture greater opportunities in the construction sector.”

GDB debuted on the ACE Market of Bursa Malaysia Securities Berhad yesterday with an opening price of RM0.36, representing a premium of 1.0 sen over the issue price of RM0.35, with 5.4 million shares at first trade.