GAMUDA Bhd is aiming to secure RM10 bil worth of order book in 2021, deriving from Penang’s reclamation jobs and Australia’s rail projects.
Its group managing director, Datuk Lin Yun Ling said half of the targeted order book will be from Australia that has chosen to use fiscal stimulus to boost its economic recovery by allocating A$100 bil (A$1=RM3.02) for infrastructure development.
“We have shortlisted three projects and the results will be out next year,” he told a virtual media briefing today.
Another RM5 bil will be derived from the Penang government’s reclamation plans, which the company is positive to obtain.
“The reclamation project is important for the state’s economic thrust as lands in Bayan Lepas, which is an electrical and electronics (E&E) hub, have run out.
The planned Island A off Bayan Lepas has been targeted by a lot of investors due to its strong E&E ecosystem and highly-skilled workforce. This will create 300,000 new jobs and attract foreign direct investment for the next 20 years,” he pointed out.
On the mass rapid transit 3 (MRT 3) project, Lin said it is quite shovel-ready, awaiting government approval on land acquisition.
On the impact of COVID-19 on its business, Lin said nothing significant took place except building additional labour quarters (for guest workers to ensure better separation), a quarantine facility, and a polymerase chain reaction (PCR) lab facility for COVID-19 testing, as well as contact tracing.
“This will cost a bit of disruption to the work but not in any significant manner. The MRT2 Sungai Buloh-Serdang-Putrajaya line project is on track to complete Phase 1 by June next year.
“We are not looking at any extension of time despite the movement control order (MCO) over the last few months,” he said.
To recap, Gamuda slipped into the red with a net loss of RM17.34 mil in the fourth quarter ended July 31, 2020 (4QFY20) against RM179.02 mil net profit a year ago, due to a one-off asset impairment after of one of its industrialised building system factories was shut down.
Its quarterly revenue declined 38% year-on-year (yoy) to RM926.52 mil from RM1.5 bil in 4QFY19. Excluding the one-off non-cash impairment, the group posted a core net profit of RM131 mil in the three months.
On a full-year basis, Gamuda’s net profit fell 47% yoy to RM371.68 mil from RM706.11 mil, while turnover fell 20% yoy to RM3.66 bil from RM4.57 bil. – Dec 8, 2020
