Gabungan wins RM141m job

KUALA LUMPUR: Gabungan AQRS Bhd, an integrated engineering and construction service provider, has won a RM141 million turnkey contract involving road upgrading works in Negri Sembilan.

The company, via its wholly-owned unit Gabungan Strategik Sdn Bhd, received a letter of acceptance from the Public Works Department yesterday.

The contract is expected to contribute positively to the company’s earnings for the financial year ending December 31, 2012 onwards.

The company, which is expected to be listed on the local stock exchange today, posted a proforma net profit of RM48.2 million on revenue of RM372.4 million.

So far, the company has completed the RM110 million Seremban-Senawang federal road upgrading job, the RM150 million Institut Kemahiran Belia in Kuala Langat and 43 school blocks in Kuala Lumpur and Selangor, totalling RM150 million.

The company’s on-going construction works include the RM104.6 million Puchong Perdana Interchange and the RM277.2 million Lebuhraya Damansara-Puchong extension.

The company is raising RM73.1 million from its listing.

About RM30.46 million would be allocated for working capital, RM25 million to buy land, RM12 million to buy a corporate headquarters and the balance RM5.7 million for listing expenses.

Business Times : nation

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