Gadang sets property sales target of RM272mil for FY20
GADANG Holdings Bhd has targeted to achieve RM272.6 million sales revenue from its property development division in this financial year, up 68% year-on-year (YoY), driven by its new launches according to its MD (property division) Datuk Ling Hock Hing.
Gadang intends to launch three property development projects in Cyberjaya and Semenyih, Selangor, and Salak South, Kuala Lumpur (KL) in financial year 2020 (FY20), ending May 31, 2020.
“As of August this year, the group’s total unbilled sales amounted to RM126.5 million,” he said after the company’s AGM in KL yesterday.
The company now has a land bank of 281.7 acres (114ha) with a gross development value of RM2.52 billion.
Among its future developments include a property development on a 21.1 acre site owned by Kwasa Land Sdn Bhd and 9.5 acres in Taman Melawati, KL.
Gadang’s nine megawatt mini hydropower concession project in Indonesia is 73% completed as of August 2019.
Gadang MD for construction division Khew Check Kiet (picture) foresees the coming year as challenging for the construction industry as there is minimal allocation from the government in the recently announced Budget 2020.
Gadang to bid for Pan Borneo Sabah packages
KUALA LUMPUR: Gadang Holdings Bhd plans to participate in the open tender for the three work packages under the Sabah portion of the Pan Borneo Highway worth RM925 million in the first quarter of 2020.
This is in addition to some RM1 billion worth of construction jobs it has already bidded for.
Khew Check Kiet, managing director of Gadang’s construction division, said the group is also awaiting the opportunity to submit its bids for the Sarawak portion of the Pan Borneo Highway, as well as the East Coast Rail Link (ECRL) project, for which it has been shortlisted.
Khew, who was speaking to reporters after Gadang’s annual general meeting yesterday, said the group expects the coming year to be challenging, especially for its construction division.
“The recent Budget [2020] announced by the finance minister [shows] that the allocation for government projects is quite minimal as compared to the previous year’s … and most of the budget [allocations] were for ongoing projects.
TRX awards Gadang RM38.5mil contract for North-South bridge
KUALA LUMPUR: TRX City Sdn Bhd, the master developer of the upcoming international financial district Tun Razak Exchange, has awarded Gadang Engineering (M) Bhd a RM38.5 million contract to build a vehicular and pedestrian bridge connecting its North and South parcels.
TRX City said Gadang will construct the main bridge deck over Jalan Sultan Ismail that will link two sections – the 57-acre North parcel which is currently under construction, and the 13-acre South Parcel.
“The 67- meter single span bridge will also include a cantilevered structure to accommodate pedestrian walkway, and a utility corridor located within the truss system to host power and other utilities connections,” it said in a statement.
As the future central business district of Kuala Lumpur, and its most accessible district, TRX City said seamless connectivity is a vital part of TRX.
TRX features an integrated MRT interchange station that hosts Sungai Buloh-Kajang line and the Sungai Buloh-Serdang-Putrajaya line.
This is further supported by direct links to major thoroughfares such as Jalan Tun Razak, the MEX highway, SMART Tunnel and upcoming DUKE 3 (Setiawangsa-Pantai Expressway).