DWL enters into pre-bid consortium agreement with Gadang for infra projects

During the quarter in review, the car distributor registered a net profit of RM32.82mil compared with RM19.43mil in the corresponding period last year. Consequently, its earnings per share jumped to 8.4 sen from 4.97 previously

KUALA LUMPUR: DWL Resources Bhd (formerly known as Spring Gallery Bhd) has entered into a pre-bid consortium agreement with Gadang Holdings Bhd to jointly work together to bid for infrastructure projects and if successful, will jointly undertake a contract for such infrastructure works.

In a statement Thursday, DWL said its wholly-owned subsidiary, Million Rich Development Sdn Bhd has entered into the pre-bid consortium agreement with Gadang Engineering (M) Sdn Bhd, a wholly-owned subsidiary of Gadang.

The consortium between DWL and Gadang is known as “DWL-Gadang Consortium” will jointly prepare and submit the tender to project owners and/or the main contractors of infrastructure projects.

“We are excited and grateful to collaborate with Gadang as this collaboration will help to strengthen our experience and enhance our portfolio to participate in a wider range of construction works and eventually turnaround the company’s revenue back into the black,” executive chairman Wan Khalik Wan Muhammad said. 

The group’s first ventured into construction in 2015 when it was appointed as the managing contractor of a mixed development project in Kemaman, Terengganu and since then, the group has been proactively growing its construction business.
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