Saturday, May 28

Gamuda eyes RM3 to RM4 billion new projects in FY17

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KUCHING: Gamuda Bhd (Gamuda) is eyeing new contracts worth approximately RM3-RM4 billion in financial year 2017 (FY17) ending July 2017.

Following a company’s briefing, Affin Hwang Investment Bank Bhd (AffinHwang Capital) in a report yesterday said Gamuda is bidding for new projects such as the Gemas-Johor Bahru Electrification Double Tracking Rail, Light Rail Transit Line 3 (LRT3) in the Klang Valley and Pan Borneo Highway Sabah which could be worth approximately RM3 to RM4 billion in FY17.

Additionally, the research firm gathered that the construction firm is also interested to bid for the East Coast Rail Line (ECRL) and KL-Singapore High-Speed Rail (HSR) projects.

Concurring with AffinHwang Capital, AmInvestment Bank Bhd (AmInvestment Bank) in another report said Gamuda hopes to secure contracts worth RM3 to RM4 billion from Gemas – Johor Bahru double tracking rail, Pan Borneo Sabah Highway and LRT3 over the next 12 months.

The research firm observed that Gamuda is bullish on the outlook for the local construction sector over the next three years, backed by KL-Singapore HSR, Mass Rapid Transit Line 3 (MRT3), Penang Transport Master Plan (PTMP) and ECRL projects.

Thus, AmInvestment Bank expects Gamuda to secure approximately RM2 billion of new jobs annually in FY17 and FY18 respectively.