Putrajaya Perdana eyes RM5b worth of projects

KUALA LUMPUR: Putrajaya Perdana Bhd (PPB) is bidding for projects worth more than RM5 billion and hopes to secure a few deals in the current year, says its executive chairman Datuk Rosman Abdullah.

Rosman said the contracts are mostly for building and infrastructure projects for the local government and private sector.

PPB yesterday announced its first win of the year, a contract worth RM156.6 million to build a 27-storey serviced apartment block in Jalan Tun Razak, here.

The contract was awarded by Hap Seng Land Development (JTR) Sdn Bhd to PPB's subsidiary, Putra Perdana Construction Sdn Bhd.

It requires Putra Perdana to build 335 units of serviced apartments, car parks and common facilities, with the project to be completed by December next year.

The award of the contract has increased PPB's existing order book to RM1.2 billion, Rosman said.

Rosman said the contract is expected to contribute positively to PPB's net profit and revenue in fiscal years 2013 and 2014.

PPB, which is an integrated construction, property development and concession business group, recorded pre-tax profit of RM51.4 million on revenue of RM822 million in 2011.

"We are honoured to be awarded the contract and attribute it to our proven track record," Rosman said.

Rosman said he is also confident of achieving Singapore's Building and Construction Association's CONQUAS standards for the serviced apartment block.

PPB has completed around RM9.5 billion worth of projects since 1998 for government-related parties and the private sector, half of which are on design-and-build basis.