Gadang to sell leasehold land in Damansara Perdana for RM65mil
KUALA LUMPUR (Oct 11): Gadang Holdings Bhd (KL:GADANG) is disposing of a leasehold land in Damansara Perdana for RM65 million to partially finance its existing construction projects and repay borrowings.
“The key rationale for the proposed disposal is to strengthen Gadang Group’s cash flow position and to reallocate its cash flow to its ongoing and future construction projects. It is also in line with Gadang Group’s strategy to pare down its existing borrowings to improve its gearing level,” the group told Bursa Malaysia.
In its filing, the group said it has — via its wholly-owned unit Gadang Construction Sdn Bhd — inked a deal to sell the land, measuring 10,779 sq m, to property developer Opulent Abode Sdn Bhd.
Of the gross proceeds of RM65 million, RM49.68 million will be allocated to part-financing of existing construction projects, RM13.72 million for repayment of bank borrowings and RM1.6 million for incidental expenses in relation to the proposed disposal.
RM188mil National Forensic Medicine Institute set for completion in 2026
KUALA LUMPUR: The new National Institute of Forensic Medicine (IPFN), the first in Southeast Asia, is expected to be completed in 2026.
Deputy Works Minister Datuk Seri Ahmad Maslan said the physical construction progress of the project at Hospital Kuala Lumpur had reached 21.62 per cent as of September.
He said the RM188 million project, which is being built by Gadang Engineering Sdn Bhd, is expected to be completed by Oct 6, 2026.
He said the main block of the IPFN project was constructed using the industrialised building system (IBS) technology, while Building Information Modelling (BIM) was utilised to enhance work coordination and future maintenance.
“This project comprises four scopes of work, including the construction of a four-storey IPFN block, a two-storey Integrated Chemical Store building, a three-storey Mechanical and Electrical building, and a three-storey Chemical Waste Store, along with supporting buildings and infrastructure works.
Gadang Land to launch third phase of Laman Citra landed homes in Johor
Gadang Land Sdn Bhd, the property development arm of Gadang Holdings Bhd, is planning to launch the third phase of its Laman Citra landed homes development in Pekan Nanas, Johor, in June.
Gadang Land head of finance and sales Kok Pei Shing tells City & Country in an email interview that the company is launching Phase 3 following strong take-ups of the development’s earlier phases.
Gadang wins RM280mil Klang Valley data centre jobs from TM Technology
KUALA LUMPUR (April 26): Gadang Holdings Bhd has secured a RM280 million contract to design and develop the Klang Valley Data Centre Block 2 in Cyberjaya from TM Technology Services Sdn Bhd, a business entity of Telekom Malaysia Bhd.
In a bourse filing on Friday, the builder-cum-property developer said the contract was awarded to its wholly owned unit, Gadang Engineering (M) Sdn Bhd, for two years from April 24, 2024 to April 23, 2026.
Gadang Holdings plans private placement to raise RM24mil for ongoing projects
GADANG Holdings Bhd plans to raise up to RM24.03 million through a private placement of up to 10% of its issued shares.
The placement will be offered at an indicative price of 33 sen per share, a discount of 9.17% from the five-day volume-weighted average price.
As of August 9, 2024, Gadang’s issued share capital amounts to RM389.52 million, comprising 728.06 million shares. Consequently, up to 72.81 million new shares may be issued.
Lagu Legend Lah Concert
Gadang supported the “Lagu Legend Lah” charity concert organized by Sunway University, helping to raise funds and awareness for beneficiaries through a meaningful evening of music and cultural performances.
Karnival STEM 2024 with HSE Tree Planting
A STEM carnival programme combined with a tree planting activity under HSE initiatives, aimed at promoting science education and environmental sustainability among students.
Sweat2Smiles 2024 – Jazzerthon Charity Event
A Sweat2Smiles 2024 charity event held at Dorsett Grand Subang in aid of Persatuan Dialisis Sdn Bhd, combining Jazzerthon fitness activities with fundraising for dialysis patients.
Majlis Penyerahan Foodbank
A foodbank contribution handover at Parliament Ampang for Pertubuhan Bantuan Teknikal Insaf Malaysia, aimed at supporting underprivileged communities with essential food supplies.
CSR Visit to PIICS
A CSR visit to PIICS, Kajang as part of Gadang Group’s community initiatives to connect with residents and provide support through engagement activities.