Gamuda’s Aussie project makes good progress

PETALING JAYA: Gamuda Bhd’s Sydney Metro West-Western Tunnelling Package (SMW-WTP) project in Australia is making good progress, having achieved a 37% completion rate as at the end of financial year 2023 (FY23).

According to RHB Research, the project is expected to contribute 13% and 10% to Gamuda’s overall earnings in FY24 and FY25, respectively. “We were pleasantly surprised by the progress made at the SMW-WTP project, and the business prospects Australia holds for the group.