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GDB Holdings Bhd has won a RM115.5 million contract to construct and commission a new water treatment plant in Song District, Kapit Division, Sarawak.

The project, awarded through its wholly-owned subsidiary GDB Infra Sdn Bhd by Pembinaan JBS Sdn Bhd, covers surveying, site clearing, pipe works, rainwater intake, mechanical and electrical services, and turnkey water treatment facilities.

Work is set to begin in March 2026 and is expected to be completed within three years.

To support its growing project pipeline in East Malaysia, GDB has opened a Sarawak Regional Office in Kuching and plans to establish a Sabah Regional Office in Kota Kinabalu by June 2026.

The new contract boosts GDB’s outstanding order book to RM785.7 million, providing earnings visibility through 2029.

The group continues to progress with high-value projects in Peninsular Malaysia, including Metrohub 4 in Klang, Logistics Hub Plot B in Shah Alam, and the International Tertiary Hospital at KL Wellness City. — TMR

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GAS Malaysia Bhd has secured a letter to proceed (LTP) from the Energy Commission (EC) to develop a liquefied natural gas (LNG) regasification terminal in Yan, Kedah.

The project, centered around an offshore floating storage and regasification unit (FSRU), is expected to cost between RM2 billion and RM3 billion.

With a planned capacity of 6 million tonnes per annum (MTPA), the terminal will now move into detailed engineering, site preparation, and financing stages.

While the LTP marks a major milestone, the group clarified that it does not yet constitute a final investment decision (FID).

Progression remains subject to specific conditions set by the EC.

Gas Malaysia expects the terminal to contribute positively to group earnings upon commissioning. — TMR

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BINTAI Kinden Corporation Bhd has secured sub-contracts worth RM25.7 million for mechanical and electrical (M&E) and drainage works tied to a factory development project in Johor.

In a statement today, the group said the contracts comprise RM17.93 million for M&E works and RM7.74 million for drainage works at the Golden Valley Hi-Tech Park in Kulai.

The projects are set to commence on March 24, 2026, with completion timelines of eight months for M&E works and six months for drainage works.

The latest contract win lifts the group’s outstanding order book to approximately RM156.4 million as at March 2026, providing improved earnings visibility in the near term.

“This contract award reflects growing confidence in our execution capabilities as we continue to regain momentum in our core M&E business,” said its MD and CEO Tay Chor Han, adding that the strengthened order book supports better earnings visibility in the coming quarters.

Bintai Kinden noted that it is actively bidding for new projects, with RM1.95 billion worth of tenders currently under evaluation, signalling a strong pipeline of opportunities.

The group recently exited its PN17 status after completing its regularisation plan and recording two consecutive profitable quarters.

It said it remains cautiously optimistic, supported by contributions from its construction segment, recurring income from concession assets, and continued participation in M&E tenders, including those by Tenaga Nasional Bhd. — TMR

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NexG Bhd said its internal review into losses from investments in quoted shares has been concluded, with the board determining that the matter has been sufficiently reviewed and is now closed.

In a clarification filing with Bursa Malaysia today, the company said the issue had been discussed at a special board meeting on March 11, 2026, convened to address, among others, its response to media reports on its fair value losses.

The review came amid significant boardroom changes, following the resignation of seven directors, namely Datuk Chong Loong Men, Kunal Tayal, Badrul Hisham Abdul Aziz, Mohamed Fairuz Mohamed Fauzy, Syed Farid Syed Ahmad Al-Attas, Mohd Zafil Ibrahim and Aswath Ramakrishnan, between March 8 and March 11.

Following these developments, the board said it concluded that the losses had already been “thoroughly ventilated, reviewed and accepted” by both the audit and risk management committee and the board, in the course of reviewing the group’s quarterly results for the financial period ended Dec 31, 2025.

As such, the company said no further action is required and the matter has been closed.

The clarification comes after heightened scrutiny over NexG’s investments in listed shares, which resulted in significant fair value losses in its latest quarterly financial results.

The investments, which emerged as a key flashpoint in the recent boardroom turmoil, centred on NexG’s stakes in MMAG Holdings Bhd and NexG Bina Bhd (formerly Classita Holdings Bhd).

NexG has maintained that the investments were strategic, with the MMAG stake positioned as part of a broader logistics strategy to support the delivery of identity documents, while the NexG Bina investment forms part of its wider expansion plans.

Despite the sharp decline in the share prices of both investee companies, the group said the losses were driven by market sentiment rather than any fundamental flaw in its strategy. — TMR

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