GDB’s unit wins RM135m mixed development contract from TRC Synergy

KUALA LUMPUR (March 28): GDB Holdings Bhd’s unit has bagged an RM135 million contract from TRC Synergy Bhd’s unit for a mixed development in Ara Damansara.

GDB Holdings said its unit Grand Dynamic Builders Sdn Bhd will act as the principal works contractor for architectural, civil and structural works, as well as mechanical and electrical works.

The development entails the building of two 18-storey serviced apartments, comprising 648 residential units, on an eight-storey podium with seven-storey car park and one-storey related facility on top of the podium.

The contract will commence on April 16 and is scheduled to be completed by Oct 15, 2021, GDB Holdings said in a filing with the stock exchange.

The group said the transaction does not have any material effect on the earnings or the net assets of the group at the transaction date.

GDB Holdings’ share price closed 0.5 sen or 1.82% higher at 28 sen yesterday with a market capitalisation of RM175 million. TRC Synergy closed 0.5 sen or 0.78% lower at 63.5 sen yesterday, for a market capitalisation of RM305.12 million. — theedgemarkets.com

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