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Thursday, December 11, 2014

Gabungan AQRS may gain from Pahang job

PETALING JAYA: Despite being only a 30% shareholder in the joint venture company to develop Pahang’s new administrative centre in Kuantan, Gabung AQRS Bhd is likely to gain from being the main contractor for the project.
Gabung AQRS’s involvement in the project had been speculated early this year.
The new administrative centre, which sits on 11.61ha, was planned to help improve the state’s delivery system.
It has been reported that the project is worth some RM400mil.
The first phase will include the construction of a new state assembly building, the Mentri Besar and state secretary’s offices as well as other state and federal government agencies.
Gabungan AQRS had partnered plantation firm Tanah Makmur Bhd to form a 30:65 joint venture company, Kreatif Sinar Gabungan Sdn Bhd, which was awarded a letter of intent from the Pahang state government for the project in the Kota Sri Ahmad Shah township.
Tanah Makmur is the developer for the township, which is on 607ha former oil palm plantation land.
The township in Indera Mahkota, Pahang has a gross development value (GDV) of RM3bil over 15 years. Datuk Azizan Jaafar is a common shareholder in Gabungan AQRS and Tanah Makmur.
He is the executive director of Gabungan AQRS with a 10.44% interest and also owns a stake in a Tanah Makmur subsidiary, which is related to the development of the township.
Gabungan AQRS, an integrated engineering and construction services company cum developer, has an orderbook of RM1.74bil as at end-August.
Source: http://www.thestar.com.my/Business/Business-News/2014/12/11/Gabungan-AQRS-may-gain-from-Pahang-job/?style=biz

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