KUALA LUMPUR (Jan 31): Construction services firm GDB Holdings Bhd has clinched a RM306 million project to develop a private hospital at Bukit Jalil, Kuala Lumpur.

GDB’s wholly owned unit Grand Dynamic Builders Sdn Bhd (GDBSB) was appointed by KL International Hospital Sdn Bhd as the main contractor for the project. KL International Hospital is a subsidiary of KL Wellness City Sdn Bhd.

In a statement on Wednesday, GDB said the project includes execution, performance, design, construction, completion, commissioning of machinery and equipment, and maintenance of the private hospital building.

The construction of the hospital will be carried out over a period of 25 months, commencing on March 16, said the group.

The hospital will be the centrepiece of KL Wellness City, poised to be a world-class hub for both domestic and international healthcare and medical services, featuring centres of excellence across areas including cardiology, spine health, neuro health, sports medicine, cosmetic surgery and fertility.

“We are pleased to be chosen to undertake the construction of the hospital at KL Wellness City, and to play a pivotal role in erecting a landmark building in this visionary city. The contract marks a significant milestone as we embark on constructing a state-of-the art hospital and at the same time elevating our track record,” said GDB group managing director Cheah Ham Cheia.

With this win, GDB said its current order book increased to RM475 million versus RM169 million as at end-September 2023. The group intends to fund the project with internally generated funds or bank borrowings.

For the cumulative nine months ended Sept 30, 2023, GDB’s net profit fell 77.27% to RM3.45 million from RM15.18 million a year earlier as revenue dropped 46.4% to RM238.6 million from RM445.22 million.

At noon break, GDB’s share price stood at 21.5 sen, giving it a market capitalisation of RM201.56 million. The stock has risen over 13% this year.