KUALA LUMPUR Gadang Holdings Bhd will bid for Package Five of the underground tunnelling works for the Klang Valley Mass Rapid Transit (KVMRT) Sungai Buloh-Kajang line.
Package Five is a 5.4km stretch from Taman Bukit Ria to Plaza Phoenix in Cheras.
The contract could be worth as much as RM12 billion, previous media reports suggest.
Managing director and chief executive officer Tan Sri Kok Onn said after the company's annual general meeting here yesterday that the proposal will be submitted in January next year. "We have to get at least one package," he said.
The project will be a joint venture between Gadang and Hyundai.
Gadang will face competition from Gamuda-MMC Corp, China's Sinohydro Group, China Railway Corp and Japan's Taisei Corp. These five firms have been shortlisted to bid for the contract.
Meanwhile, Kok said he is positive on the outlook of the company's current financial year mainly due to its core businesses of engineering and construction.
He said the earnings will improve if the company wins the projects it is bidding for and with the completion of its ongoing projects.
"We also expect earnings with the expected completion of the Shah Alam Hospital at the end of 2013 and the runway project at the low-cost carrier terminal in Sepang.
"We believe there will be turn- around because for the first quarter, we were in the black," he said.
For the year ended May 31 2011, Gadang recorded revenue of RM350 million.
The company suffered a pre-tax loss of RM1.2 million due mainly to the write-off of bad debts and goodwill impairment of RM11.15 million.
Package Five of KVMRT underground tunnelling works is a 5.4km stretch from Taman Bukit Ria to Plaza Phoenix in Cheras.
Package Five is a 5.4km stretch from Taman Bukit Ria to Plaza Phoenix in Cheras.
The contract could be worth as much as RM12 billion, previous media reports suggest.
Managing director and chief executive officer Tan Sri Kok Onn said after the company's annual general meeting here yesterday that the proposal will be submitted in January next year. "We have to get at least one package," he said.
The project will be a joint venture between Gadang and Hyundai.
Gadang will face competition from Gamuda-MMC Corp, China's Sinohydro Group, China Railway Corp and Japan's Taisei Corp. These five firms have been shortlisted to bid for the contract.
Meanwhile, Kok said he is positive on the outlook of the company's current financial year mainly due to its core businesses of engineering and construction.
He said the earnings will improve if the company wins the projects it is bidding for and with the completion of its ongoing projects.
"We also expect earnings with the expected completion of the Shah Alam Hospital at the end of 2013 and the runway project at the low-cost carrier terminal in Sepang.
"We believe there will be turn- around because for the first quarter, we were in the black," he said.
For the year ended May 31 2011, Gadang recorded revenue of RM350 million.
The company suffered a pre-tax loss of RM1.2 million due mainly to the write-off of bad debts and goodwill impairment of RM11.15 million.
Package Five of KVMRT underground tunnelling works is a 5.4km stretch from Taman Bukit Ria to Plaza Phoenix in Cheras.
