Smallish impact from Gamuda’s latest win for Gurney Marine Bridge construction

KUCHING: Gamuda Bhd’s (Gamuda) latest contract win of RM202.6 million for the construction of Gurney Marine Bridge and related works, via a 50:50 joint venture (JV) with Kerjaya Prospek Group Bhd (Kerjaya Prospek), has been viewed as negligible for Gamuda.

According to Kerjaya Prospek’s statement, the award is for the execution and completion of infrastructure works on Gurney Marine Bridge, linking Jalan Gurney to the Seri Tanjung Pinang Phase 2 (STP2) Island, 55.47 metrewide main road from Gurney Marine Bridge to Gurney roundabout, upgrading of Gurney roundabout and all other associated civil engineering works for the STP2, Penang.

It was also revealed that the infrastructure works of the contract are expected to commence on May 4, 2021 and will take 30 months to complete from the commencement date.

“To put things in perspective, the latest contract is almost negligible versus Gamuda’s construction churn rate of about RM1 billion per quarter currently,” AmInvestment Bank Bhd said.