GAMUDA EYES RM10B ORDER BOOK IN 2022

Construction firm also looking to secure more jobs in Taiwan and Singapore

CONSTRUCTION giant Gamuda Bhd is targeting to secure at least RM10 billion of order book next year from Penang South Islands and Australian projects.

Gamuda Engineering Sdn Bhd managing director Justin Chin Jing Ho said up to last month, Gamuda’s order book stood at RM4.5 billion.

This will help sustain the company’s earnings for the next two years.

Gamuda Engineering is a wholly owned subsidiary of Gamuda.

Chin said the company was bidding for a number of projects in Australia and targeting an order book of RM5 billion to RM6 billion in the next few years.

He said the target was reasonable as the Australian government had earmarked more than A$100 billion worth of infrastructure projects over the next decade, especially railway-related ones, to boost the country’s economic recovery.

“We are awaiting the results of two Australian tenders. They are expected to come up in the next one or two quarters.

“Next year, we are targeting another three to four new tenders in Australia. Gamuda is also looking to expand our current base of projects in Taiwan and Singapore,” he said after the company’s annual general meeting yesterday.

On the Mass Rapid Transit Line 3 project, Chin said the company was waiting for a clearer picture from the government.

“For now, everything is still relatively speculative. We hope to hear the government’s decision in the coming few months.”

Chin said Gamuda was looking to expand its capability to meet the right target markets.

It posted a net profit of RM214.1 million in the fourth quarter ended July 31, compared to a loss of RM12.5 million in the same period a year ago.

For the full year, its net profit rose to RM588.3 million from RM376.5 million while revenue was slightly lower at RM3.5 billion from RM3.6 billion.