PETALING JAYA: GDB Holdings Bhd
has strengthened its growth outlook driven by strategic expansion in Sabah and Sarawak, and strong order book replenishment, says Apex Research.
Its wholly-owned subsidiary, GDB Infra Sdn Bhd, secured a RM119mil sub-contract from I-Ilham Corp Sdn Bhd for Phase 3 of the National Flood Forecasting and Warning Programme in Sarawak, scheduled for completion by November 2029.
The project is GDB’s largest infrastructure win in Sarawak to date, surpassing the RM115.5mil New Song Water Treatment Plant contract.
Apex Research, in a report on the company, stated the contract strategically broadens GDB’s credentials into climate resilience infrastructure, complementing its existing experience in roadworks and water treatment facilities.
The contract win takes GDB’s year-to-date contract wins to RM795.3mil, which is 79.5% of its RM1bil order book replenishment target for the year.
Its current tender book stands at RM4.3bil.
Apex Research is positive on GDB’s chances of hitting the target and more.
“Flood mitigation remains a public spending priority, with Budget 2027 naming three new flood mitigation projects, Kuching City, Sungai Golok Phase 2 and Sungai Kemaman, while 82 existing projects progress on schedule, alongside a development expenditure allocation of RM83bil for 2027 (2026: RM81bil).
“GDB’s Sabah and Sarawak push, supported by the newly incorporated GDB Construction, should position it to capture more infrastructure-related tenders in Sarawak,” the research firm stated.
Sarawak has emerged as a key growth driver for GDB accounting for RM355.9mil or 44.7% of the current year contract wins across four active projects.
