PETALING JAYA: GDB Holdings Bhd, via its newly acquired 70%-owned subsidiary, GDB Geotechnics Sdn Bhd, has been appointed as the main contractor for a serviced apartments project known as Aviary Residence @ Puchong Horizon.
In a Bursa Malaysia filing, GDB said it had accepted the letter of award and supplementary agreement from SNA Consult Sdn Bhd on behalf of Bison Holdings Sdn Bhd, on Nov 14. Bison Holdings is a wholly-owned subsidiary of Hua Yang Bhd.
The contract is valued at RM20.67 million, and will commence from Nov 18, 2019 for a duration of 21 months. It is scheduled to be completed by Aug 18. 2021.
The scope of work includes bored piling and pile caps for two blocks of serviced apartments comprising a 36-storey 565-unit Tower 1 and 37-storey 337-unit Tower 2. The development will also include a common facilities podium as well as a six-storey car park.
“The contract is expected to contribute positively towards the future earnings of GDB for the duration of the contract. GDB intends to fund the contract via internally generated funds,” the group said in its filing.
GDB managing director Cheah Ham Cheia said year to date, the group has secured RM885.97 million in new contracts with total outsanding order book standing at about RM1.2 billion.
