Gamuda wins RM1.77bil contract from Singapore LTA

06 Dec 2023 | The Star

The West Coast station and tunnels contract is Gamuda’s third infrastructure project in Singapore.

Kuala Lumpur: Gamuda Bhd Singapore Branch, has been appointed by the Singapore Land Transport Authority (LTA) to deliver around S$510mil (RM1.77bil) for the design and construction of the West Coast Station and Tunnels (known as Contract CR209).

“This is Gamuda’s first independent venture in Singapore without joint venture partners, showcasing the group’s strong delivery track record in the region and solidifying its role as a key player in the city-state’s transportation infrastructure development,” Gamuda said in a statement.

Contract CR209 is Gamuda’s second railway project in Singapore (after Defu Station and Tunnels); and its third infrastructure project (after the Gali Batu Multi-Storey Bus Depot), all awarded by LTA.

Gamuda said the West Coast Station tunnelling package of contract CR209 is part of the new Cross Island Line Phase 2 (CRL2), the eighth mass rapid transit (MRT) line in Singapore, which comprises 15km with six underground stations. The West Coast Station will be constructed along West Coast Road.

Construction works are expected to start in the first quarter of 2024, with passenger service for CRL 2 targeted to commence in 2032.

Meanwhile, Gamuda posted a net profit of RM195.04mil, or earnings per share of 7.26 sen in the first quarter ended Oct 31, compared with RM1.17bil, or 45.32 sen in the same quarter last year.

Revenue, however, surged to RM2.8bil from RM1.3bil a year ago.

It has declared a single tier interim dividend of 6.00 sen per ordinary share. The dividend date and the book closure date to be determined and announced at a later date.