GFM bags RM69m facility management service contracts from BNM

KUALA LUMPUR (Feb 8): GFM Services Bhd has won two contracts from Bank Negara Malaysia to provide comprehensive facility management services at selected premises of the bank for a combined value of RM69 million.

The contracts, awarded to GFM’s wholly-owned subsidiary Global Facilities Management Sdn Bhd, are for a four-year period expiring on Dec 31, 2022, the group said in a filing yesterday.

“GFM has successfully maintained a 100% contract renewal and extension rate in 2018. This is expected to contribute positively to the group’s bottom line and boost GFM’s current outstanding orderbook to RM1.4 billion,” GFM managing director Ruslan Nordin said in a statement.

GFM’s share price closed down three sen or 5.26% at 45 sen yesterday, for a market capitalisation of RM211.91 million. —

Click here for more property stories

  1. MoF: May 2019 bank loan approvals jump 13% after BNM OPR cut
  2. Examination doesn't mean investigation, says BNM officer in heated exchange with Najib's lawyer
  3. Why cost of living perception differs from actual inflation rate — BNM's take