GFM Services sees earnings boost from KPMD acquisition

KUALA LUMPUR: Integrated facilities management services provider GFM Services Bhd, whose shareholders approved its proposed purchase of a 100% stake in KP Mukah Development Sdn Bhd (KPMD) for RM130mil, expects its earnings to more than double following the acquisition.

KPMD holds a 23-year concession awarded by the government and Universiti Teknologi Mara (UiTM), which entails three years of the design, build and construction of UiTM Mukah campus in Sarawak, and 20 years for the delivery of facilities management services ending September 2035.