Gamuda Expected To Generate RM10 Billion Order Book In 2022

The Penang South Islands (PSI) and Australia projects are expected to generate at least RM10 billion in the order book for Gamuda Bhd next year.

Gamuda Engineering managing director Justin Chin Jing Ho stated that the company’s order book stood at RM4.5 billion as of November this year, which will help the company’s earnings for the next two years.

“For the next financial year, we are carrying forward our order book replenishment target of RM10 billion from last year, just under half of which comes from the PSI reclamation and the remainder from Australia,” he says at a virtual press conference after Gamuda’s annual general meeting today.

Chin claimed that the company was bidding on several projects in Australia and aiming for an order book of A$5 billion to A$6 billion in the coming years.

“The target should be reasonable, this is because the Australian government has set aside more than A$100 billion for infrastructure projects over the next decade, particularly railway-related projects, to help the country’s economic recovery.

“As of now, we are awaiting the results of two tenders from the Australian projects. They are expected to come up in the next one or two quarters.

“Within 2022, we are targeting another three to four new tenders in the Australian market. Gamuda is also looking to expand our current base of ongoing projects secured in the last few years in the Taiwan and Singapore markets as we have a good presence in this market,” he says.

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