Vestland Berhad has bagged two Design and build contracts from Derrida (M) Sdn Bhd and Sg. Besi Construction Sdn Bhd
respectively, amounting to a total contract value of RM116.1 million.
The contract from Derrida (M) Sdn Bhd relates to a Design and build project for a school, quarters, hostel, and related facilities located at Sabah, with a contract value of RM53.0 million. Whereas the contract from Sg. Besi Construction Sdn Bhd relates to a Design and build project for two blocks of thirteen-storey apartments and related facilities located at Pulau Pinang, with a contract value of RM63.1 million.
In the 2023 calendar year-to-date, Vestland has successfully bagged a total of RM783.7 million worth of contracts. Including the recent job wins, Vestland has a total outstanding order book value of approximately RM1.8 billion.
“We are delighted to share our success in securing two more Design & Build contracts, adding to our remarkable milestone, pursuant to our listing on the ACE Market on 31st January 2023,” stated Group Managing Director, Datuk Liew Foo Heen. “Our adoption of Blue Ocean strategy of leveraging on our expertise in design and build has paid off, as evident in the consistent revenue contribution of 50-60% from the design and build segment for the past quarters, providing a strong earnings visibility for the upcoming 3-4 years. Our team’s diligent effort in growing our Group is evident in our first-ever
contract win in Penang, expanding our presence geographically up to the Northern part of Peninsular Malaysia.”
