Gadang Holdings Awarded RM131mil Subcontract Work For Central Spine Road
Gadang Holdings Berhad has secured the subcontract work related to geotechnical, drainage, and the structural world for the Central Spine Road Package 2.
The award, handed by Binary Vista is estimated to be worth RM131 million which is expected to last 30 months and is expected to be completed by 2024. Central Spine Road or Kuala Krai–Kuala Pilah Highway, Federal Route 34, is a new toll-free highway under construction in the center of Peninsular Malaysia. The 325 km highway is built to eventually replace the former two-lane Federal Route 8 Gua Musang Highway and Federal Route 9 Karak–Tampin highway.
CSR is expected to be complete by 2026 linking important parts of the East Coast and easing traffic along the current highway, the project is led by the Ministry of Works. The project is part of the East Coast Economic Region Development.
Gadang Land’s Elegan Residensi in Puchong 90% taken-up
This article first appeared in City & Country, The Edge Malaysia Weekly on October 4, 2021 – October 10, 2021
Gadang Land Sdn Bhd’s Elegan Residensi, a RM222 million townhouse development in Taman Putra Perdana, Puchong, is already 90% sold.
Elegan Residensi comprises a total of 404 1½-storey townhouses and is being developed in two phases: Phase 1, which has 270 units, was launched in August 2019, and Gadang Land obtained the advertising permit and developer’s licence for the 134-unit Phase 2 in November 2020.
Gadang’s subsidiary bags RM100.34mil Central Spine Road subcontract
KUALA LUMPUR, Sept 17 — Gadang Holdings Bhd’s wholly-owned subsidiary, Gadang Engineering (M) Sdn Bhd (GESB), has secured a RM100.34 million subcontract works for Central Spine Road Package 2 from Binary Vista Sdn Bhd.
In a filing with Bursa Malaysia, the company said GESB would be the subcontractor to undertake demolition, site clearance, earthwork and access bridge to Kuala Berang, Terengganu.
It said the subcontract is expected to contribute positively to the earnings and net assets of Gadang for the financial year ending May 31, 2022 and onwards, during the duration of the subcontract.
Gadang posts quarterly net profit of RM3.7mil
PETALING JAYA: Gadang Holdings Bhd posted a RM3.7mil net profit for its fourth quarter ended May 31, 2021 (Q4FY21) compared with a loss of RM259,000 a year ago, while revenue was 32% higher to RM152.3mil.
The group is involved in civil engineering and construction, property development, water supply, and mechanical and electrical engineering services.
In a filing with Bursa Malaysia, the company said the improved Q4 earnings were due to its construction and utilities divisions, while the higher revenue was mainly due to the property division’s better sales for some ongoing projects.