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Wednesday, November 20, 2013

Gadang eyes mega highway jobs (Star)

Construction firm Gadang Holdings Bhd has identified the design and build works for the Kinrara-Damansara Expressway and the construction works for the West Coast Expressway, the Damansara-Shah Alam Highway and the Sungai Besi-Ulu Kelang Elevated Expressway as among the RM6bil worth of projects the company is tendering for.

Managing director and chief executive officer Tan Sri Kok Onn said more announcements on the tenders would be made available in the coming months.

“There is the privatisation of a few mega highways that we’re looking forward to participate in for the tender for works,” he said after a shareholders’ meeting.

“The outlook is good for Gadang, in particular, our construction and property divisions. Construction is still our core business and property is always the top earnings contributor,” he added.

The infrastructure works Gadang is bidding for are the Klang Valley MRT Line 2 and a cogeneration plant on the Petronas Refinery and Petrochemical Integrated Development (Rapid) site in Pengerang, Johor, meant to provide electricity and heating water for the project site.

“This is an engineering and procurement contract which we hope we can secure in the first half of next year,” he said.

The job would be carried out via a joint venture with a foreign engineering firm which the group declined to disclose.

The company has an order book valued at RM1.58bil. Construction contracts for the Shah Alam Hospital make up RM410.9mil, MRT (Package V2) for the Kota Damansara to Dataran Sunway stretch makes up RM863.4mil while site preparation works for Petronas’ Rapid (Package 1) is worth RM312.8mil.

The Rapid works will be completed at the end of this year, while the Shah Alam Hospital and MRT (Package 2) works will be completed in September 2014 and April 2016, respectively.

Under the property division, Kok said they were looking to build a mid to high-end residential development on the 3.64ha land the company recently acquired in Taman Melawati, Kuala Lumpur.

Division managing director Ling Hock Hing said the company would launch two new phases under the Residensi Vyne condominium development in Sungai Besi and Pokok Sena terraced house project in Kedah in the first quarter of 2014.

“Gadang is also moving ahead with the joint development with Cyberview Sdn Bhd, beginning with 325 units of 1Malaysia Housing Programme apartments and 142 units of double-storey terraced houses,” Ling said.

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