Fajarbaru wins RM121mil contract for Johore Golf & Country Club construction

Fajarbaru Builder Group Bhd group executive chairman Tan Sri Chan Kong Choy

KUALA LUMPUR: Fajarbaru Builder Group Bhd has secured an RM120.82mil contract from Tanjung Nakhoda (M) Sdn Bhd for the construction and completion of partially completed works of Johore Golf & Country Club (JGCC).

In a filing with Bursa Malaysia, Fajarbaru said its wholly-owned subsidiary, Fajarbaru Builder Sdn Bhd accepted a letter of award from Tanjung Nakhoda.

The project involves the construction and completion of a 2-storey clubhouse and accompanying carpark, a 4-storey driving range complex featuring a one-storey multi-purpose hall and a carpark, a guard house, and an electricity sub-station.

The contract period is 90 weeks commencing on March 11, 2024 and shall be completed on Nov 30, 2025.

Group executive chairman Tan Sri Chan Kong Choy said this contract is a testament to its expertise and credibility in the construction industry

“The JGCC project marks our inaugural venture in Johor, and we take great pride in extending our project portfolio across diverse regions, spanning from Penang to the east coast, encompassing the Klang Valley, and now, venturing into the southern reaches of Peninsula Malaysia.

“We are proud to be involved in the project for one of Malaysia's most iconic golf and country clubs. We will work closely with Tanjung Nakhoda and other players involved in this project to give JGCC a more modern, sophisticated look that meets international standards,” Chan said in a statement.

As of Feb 26, Fajarbaru’s construction division currently has an orderbook of RM795mil with a diverse range of projects such as high-rise residential buildings, affordable apartments, retail complexes, service apartments, and the redevelopment of military facilities.

The group is currently tendering for construction projects with a combined value of RM4.7bil, across the private and government sectors.

For the quarter ended Dec 31, 2023, (2Q24), Fajarbaru reported a net profit of RM20.88mil, up 606% as compared to a net profit of RM2.96mil reported in the first quarter of the financial year 2024.

Revenue amounted to RM126.79mil, marking an impressive 74% increase compared to the first quarter of the same financial year. The improved performance for the second quarter was mainly driven by the group's property development segment.

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