In a filing with Bursa Malaysia, the construction and property development firm said its unit Gadang Engineering (M) Sdn Bhd had accepted the letter of acceptance from government-owned Cyberview Sdn Bhd to undertake the proposed development of the 288-bed hospital.
The contract’s amount is bigger than the revenue of its construction division for the entire financial year ended May 31, 2017 (FY17), which was RM275.91mil based on its reported unaudited results.
In recent months, Gadang has secured some major contracts, including a RM952.09mil Mass Rapid Transit viaduct guideway construction package in March and a RM327.9mil road infrastructure job from TRX City Sdn Bhd in May (clinched by 51%-owned Gadang CRFG Consortium Sdn Bhd).
Gadang did not say how long the construction works for Cyberjaya Hospital would take or when it would begin the work.
However, Treasury secretary-general Tan Sri Dr Mohd Irwan Serigar Abdullah was reported as saying that the hospital would span over 4.86ha and would help reduce the congestion at public hospitals in Putrajaya and Serdang.
Gadang saw its construction-related revenue shrink by 43% in FY17 compared to the preceding year, when the construction division contributed RM480.6mil, or 71%, of the turnover.
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