KUALA LUMPUR (Sept 13): Construction group Gagasan Nadi Cergas Bhd aims to take on more construction jobs by tendering for projects in excess of RM1.7 billion in the coming year.
In a statement today, Gagasan Nadi Cergas said its tender book consists of bids from the private and public sectors, including essential projects such as hospitals and healthcare facilities.
Gagasan Nadi Cergas group managing director Wan Azman Wan Kamal said that as the country transitions from the current pandemic to an endemic, the group foresees even more demand for such essential projects.
“We believe that our extensive skill set in designing and building a wide array of essential buildings over the past 26 years places us in a promising stead in our current tenders,” he added.
He noted that the favourable outcome of those tenders would complement the group’s RM1.6 billion order book as of March 31, 2021, which consists of six ongoing projects and several others that would soon commence.
The group said its current projects include the construction of Maktab Rendah Sains Mara (MRSM) campuses in Bagan Datuk, Perak, and Dungun, Terengganu; the Serdang Hospital Cardiology Centre in Serdang, Selangor; the public residential high-rise apartment in Precinct 11, Putrajaya; the Selindung mixed development in Ulu Yam; and the high-rise Antara Residence condominium in Precinct 5, Putrajaya.
“In the meantime, Gagasan Nadi Cergas is seeking to make meaningful headway in the ongoing projects. The group has obtained approval from the Ministry of International Trade and Industry (MITI) to resume operations with strict compliance with the Ministry of Health’s (MoH) standard operating procedures (SOPs),” it added.
The group also said that it is on track towards achieving a full vaccination rate among its employees by the end of September 2021, which it noted will help accelerate its construction progress for ongoing projects and the commencement of upcoming projects.
Gagasan Nadi Cergas said that its upcoming projects include the Rumah Selangorku (RSKU) housing project in Serendah; Rumah Idaman in Bukit Jelutong and Elmina Shah Alam; and two high-rise affordable housing projects for Paramount Corp Bhd in Selangor.
“Altogether, Gagasan Nadi Cergas will be building more than 7,000 units of affordable housing from hereon to year 2026,” it added.
Meanwhile, for its property development segment, the group said the Antara Residence had recorded a take-up rate of close to 70% with construction targeted to be completed in 2022, while the Selindung Ulu Yam development was 90% taken up.
“We strive to accelerate the progress to recognise our order book and sustain our prospects as the ideal designer and builder for affordable houses,” Wan Kamal said.
The stock was unchanged at 29 sen this afternoon and had a market capitalisation of RM218.4 million.
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