Gadang bags RM475mil hospital project in Cyberjaya
Gadang Holdings Bhd’s wholly owned subsidiary, Gadang Engineering (M) Sdn Bhd, has accepted a RM475 million contract for the design and building of the proposed Cyberjaya Hospital.
The award was given by Cyberview Sdn Bhd and will see the subsidiary unit undertaking the proposed development of the 288-bed hospital located on Lot 47686 at Persiaran Multimedia, Cyber 11, Cyberjaya, Mukim Dengkil in Selangor.
In an exchange filing last Friday, the civil engineering and construction company noted that the project is expected to contribute positively to the future earnings of the group. It added that none of its directors or major shareholders has any interest —direct or indirect — in the contract.
Gadang to build residential units in Kwasa Damansara
KUALA LUMPUR: Gadang Holdings Bhd has bagged the development rights for a 21.08-acre (8.53ha) plot known as R3-1 within the Kwasa Damansara township here from Kwasa Land Sdn Bhd — the master developer of the new township.
The proposed development, which has an estimated gross development value of RM700 million, will feature 780 residential units comprising a combination of high-rise towers and villas.
In a statement yesterday, Kwasa Land said its wholly-owned subsidiary Kwasa Development (3) Sdn Bhd had signed an agreement with Gadang’s unit Elegance Sonata Sdn Bhd for the development rights of R3-1.
Under the deal, Kwasa Land will receive RM165.5 million for the development rights and revenue sharing from Gadang.
“The development period would be six years for the entire project to be completed. Plot R3-1 is expected to be launched by January 2019,” said Kwasa Land.
Gadang JV bags RM327.9mil road infrastructure job from TRX City
KUALA LUMPUR (May 9): Construction firm Gadang Holdings Bhd says its 51%-owned joint venture company Gadang CRFG Consortium Sdn Bhd has bagged a major traffic dispersion and improvement job from TRX City Sdn Bhd worth RM327.91 million.
China Railway First Group Co’s subsidiary, CRFG Malaysia Bhd, owns the remaining 49% in Gadang CRFG Consortium.
“The project is expected to contribute positively to the future earnings of Gadang,” said Gadang in a filing with Bursa Malaysia this evening.
TRX City is the master developer of the Tun Razak Exchange (TRX) development.
In a separate statement, TRX City said the contract is part of a larger effort by the Kuala Lumpur City Council (DBKL) and the federal government to improve traffic along Jalan Tun Razak and its vicinity, to reduce traffic loading on Jalan Bukit Bintang and Jalan Tun Razak by as much as 27%.
Gadang Holdings bags RM952 mil MRT2 job
KUALA LUMPUR (Mar 10): Gadang Holdings Bhd has bagged a RM952.09 million contract from Mass Rapid Transit Corp Sdn Bhd (MRT Corp) to undertake viaduct guideway and other associated works under Package V206 of the Mass Rapid Transit Sungai Buloh-Serdang-Putrajaya (SSP) Line.
In a filing with Bursa Malaysia today, Gadang said its wholly-owned subsidiary Gadang Engineering (M) Sdn Bhd has received a letter of acceptance from MRT Corp awarding the company the contract for Package V206.
“Package V206 involves the construction and completion of viaduct guideway and other associated works from Serdang Raya to UPM.
“The contract is expected to contribute positively to the future earnings of the group,” added Gadang.
Gadang shares closed up four sen or 3.28% at RM1.26 today, for a market capitalisation of RM818.3 million.
Gadang to develop RM160mil townhouse project in Puchong
KUALA LUMPUR: Gadang Holdings Bhd has entered into a deal to develop a townhouse project with a gross development value of RM160 million in Taman Putra Perdana, Puchong.
The builder said its indirect wholly-owned subsidiary, Tema Warisan Sdn Bhd, yesterday inked a joint-venture (JV) agreement with Perikatan Progresif Sdn Bhd for the development on a 17.5-acre (7ha) leasehold land.
Perikatan Progresif is the beneficial owner of the land, and under the deal will be entitled to 32% of the net development value, or RM42.688 million, whichever is lower.
Tema Warisan, meanwhile, will be responsible for development approvals and activities for the project, comprising 213 residential land parcels and three parcels for power substations.