GDB tender book exceeds RM1b

In a filing with Bursa Malaysia, Country View said that the acquisition

KUALA LUMPUR: ACE market debutant and construction services firm, GDB Holdings Bhd (GDB), is optimistic of future prospects as its tender book value has surpassed RM1 billion.

The group's tender book comprises construction works for high-rise serviced apartments, a hotel, and other commercial buildings in the Klang Valley, while its order book stood at RM854.9 million as at Feb 6, 2018.  

In a statement today, Managing Director, Cheah Ham Cheia said the group's outstanding work indicated a clear demand for its construction services and provided visibility for the company over the next two years.

“Additionally, we believe that our strong track record of early completion and adherence to quality and safety standards places us in a favourable position when we bid for new contracts.  

“Hence, our listing on Bursa Malaysia Securities Bhd is timely to elevate our profile and raise funds for our capital expenditure, to enhance capabilities and capture greater opportunities in the construction sector,” he added.

GDB debuted on the ACE Market today with an opening price of 36 sen, representing a premium of one sen over the issue price of 35 sen, with 5.4 million shares at first trade.

Of the RM43.8 million in total proceeds from the Initial Public Offering, RM24.7 million would be allocated for capital expenditure, while RM15.6 million is for working capital to support GDB's expansion plans.

The remaining RM3.5 million would go towards the defraying of listing expenses. - Bernama