Gamuda buys 9.1-acre land in Vietnam for US$315 mil for mixed-use development
The company said this mixed-use development site has a projected gross development value (GDV) of US$1.
The company said this mixed-use development site has a projected gross development value (GDV) of US$1.
Gamuda noted that this RM30 million partnership will see the company collaborating with VTAR to create the Certificate in Digital Manufacturing in Construction programme.
Quarterly net profit edged up 0.
In a bourse filing on Thursday (June 22), the engineering, property and infrastructure group said it had approved the renewal of the employment contract of the 68-year-old engineer-turned-corporate leader from July 1, 2023 to June 30, 2028.
On a quarter-on-quarter basis, Gamuda’s latest quarterly net profit rose 14.
This involves about 1,260 acres of the total 2,300 acres to be reclaimed for the island known as Island A, which the project developer Silicon Island Development Sdn Bhd — the 70:30 joint venture between Gamuda and the Penang state government — had previously estimated would cost RM6 billion in total to reclaim, with the cost of common infrastructure expected to be RM2.
CGS-CIMB said that once earnings delivery picks up for its maiden Australia project Sydney Metro West which is 20-25% complete, that should instill more investor confidence in Gamuda’s ability to execute projects in Australia.
“Gamuda claims that over 93% of public comments on the EIA favoured the reclamation project.
Gamuda raises the concern on the possible implications for “approval process of future development projects” given that the PSI project was scaled down half way through it.
"On top of that, we also expect the Bayan Lepas LRT under the Penang Transport Master Plan (PTMP) to kick off sooner than expected.