Damansara Realty JV wins RM27mil job

  • Business,Property
  • Tuesday, 26 Sep 2017

PETALING JAYA: Damansara Realty Bhd (DBhd) has been awarded a RM27.62mil integrated facilities management (IFM) contract for a small medical facility in Petronas’ Pengerang refinery in Johor, in a joint venture with KPJ Healthcare Bhd’s Kumpulan Perubatan (Johor) Sdn Bhd.

The project covers medical services for utilities, interconnecting and offsite facilities for the Petronas Refinery and Petrochemical Integrated Development (Rapid) project in Pengerang.

In a filing to Bursa Malaysia, DBhd said the small medical facility project also includes an optional services contract for RM7.8mil, bringing the potential total contract value to RM35.42mil.

As of July this year, DBhd has a total RM285mil worth of IFM contracts in hand.

“Our IFM division has been the engine in driving our return to profitability, contributing 46% of our total earnings before interest, tax, depreciation and amortisation (Ebitda) in the first half of 2017 alone.

“We implemented an aggressive strategic restructuring plan in late 2016, which has seen improved operational efficiencies within the group.

“Barring any unforeseen circumstances, we expect the group to show a full-year operating profit for the first time in four years,” said group CEO Brian Iskandar Zulkarim (pic) in a press release yesterday.

DBhd’s strategic transformation initiatives resulted in a net profit of RM2.5mil for the first half of financial year 2017, as compared to a net loss of RM9.8mil in the previous corresponding period.

In September 2016, DBhd was awarded a RM124mil contract to operate and maintain the temporary executive village and management office of Petronas’ Rapid project, and in July 2017, it secured another contract for security management services worth RM26.21mil.

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