PETALING JAYA: GDB Holdings Bhd’s web revenue fell 14.4% to RM6.4mil within the third quarter ended Sept 30, in opposition to RM7.48mil a yr in the past on the again of decrease income.
Moreover, the group confronted rising building materials costs, varied prices incurred through the full Motion Management Order (FMCO) and Covid-19 customary working process compliance prices.
GDB’s income decreased by 7.97% to RM88.27mil from RM95.91mil for the corresponding quarter final yr primarily as a consequence of primarily a results of the imposition of FMCO enforced nationwide on June 1.
Within the first 9 months to Sept 30, GDB posted a 17.4% improve in web revenue to RM20.1mil from RM17.1mil a yr in the past. Income for the interval rose 19.3% to RM280.1mil from RM234.7mil income a yr in the past.
GDB group managing director Cheah Ham Cheia stated that the group had progressively obtained Ministry of Worldwide Commerce and Trade (MITI) approvals to renew building actions at an preliminary 60% capability, with approval for the final ongoing mission secured in mid-August 2021.
By end-September 2021, upon assembly the Authority’s necessities, all mission websites are permitted to work at full working capability.
“We are going to proceed to make progress of our remaining ongoing tasks, and are tendering for RM1.31bil value of tasks throughout business, lodge, residential, in addition to combined growth segments.
“We’re optimistic of our FY2021 efficiency barring unexpected circumstances, whereas conscious of worth fluctuation of building supplies and Covid-19 associated prices corresponding to employees’ testing, quarantine and website sanitisation measures.
“Moreover, we’re slated to progress into superior phases of building in the direction of delivering two main ongoing tasks within the subsequent monetary yr ending Dec 31, 2022, which bodes properly for the group’s topline,” Cheah stated.
GDB’s RM1.67bil orderbook as at Sept 30 consists primarily of premium high-rise tasks of Park Regent at Desa ParkCity, Perla Ara Sentral in Ara Damansara and eight Conlay in Kuala Lumpur metropolis centre, and Hyatt Centric Resort in Kota Kinabalu.
“These 4 ongoing tasks are anticipated to supply earnings visibility till early FY2024,” it stated.
As at Sept 30, GDB’s whole money and money equivalents stood at RM88.1mil.
