PETALING JAYA: Gamuda Bhd
expects its performance going forward to be largely driven by overseas and domestic construction activities.
Group chief financial officer Soo Kok Wong said this will include construction of several data centres and higher contributions from the property division’s various quick-turnaround projects.
“Moving forward, the resilience of the group is underpinned by an all-time-high construction order book of RM32bil and unbilled property sales of RM7.7bil.
“On top of that, the group has a healthy balance sheet with a comfortable net gearing of 39%, well below our self-imposed gearing limit of 70%,” he said in the company’s annual report.
In the same report, Gamuda Engineering managing director Justin Chin Jing Ho said the group is eyeing positive growth within the Australian clean energy and renewables infrastructure market, which is worth A$328bil.
“Our aim is to become a leading end-to-end developer-builder-owner of assets in Australia’s clean energy future and are deep in our pursuits of solar, wind, pumped hydro and transmission opportunities.”
As part of Gamuda’s localisation strategy, Chin said the group has a strong team of energy specialists familiar with the Australian energy market, which will be supplemented with expertise and partnerships from Malaysia.
“These include ERS Energy, Malaysia’s largest solar contracting company; and Rohas Tecnic Bhd, a leading Malaysian supplier of turnkey solutions for transmission networks which will provide us with technical capability, resources, and a resilient regional supply chain.”
Additionally, Chin said Taiwan continues to be a promising market for the group, as evidenced by its most recent win in October 2024.
“We secured our seventh infrastructure project as the main contractor for the Xizhi Donghu Mass Rapid Transit (MRT) project in Taipei. This RM4.3bil project encompasses 5.78km of elevated viaducts and trackwork, six above-ground stations, system works and depot maintenance equipment.”
Meanwhile in Singapore, Chin said the Land Transport Authority (LTA) had entrusted Gamuda with the RM1.77bil civil contract to design and construct the West Coast station and its associated tunnels for the MRT Cross Island Line (Phase 2).
“This is our third contract win with the same client that further strengthens the group’s track record in the city-state and our reputation as a key player in Singapore’s infrastructure landscape.
“Gamuda is also currently delivering the Defu station and tunnels for the MRT Cross Island Line (Phase 1) and the Gali Batu Multi-Storey Bus Depot for the LTA.”
