WCT’s 2011 job win target remains at RM2 billion riding on a sizeable RM10 billion tender book. This will provide the lift to its RM3.4 billion outstanding order book.
WCT includes potential works in Abu Dhabi and Saudi Arabia. Domestic jobs include a government building job and the LRT Package B in which WCT has participated in the tender. The award for one of two lines (Kelana Jaya) is expected soon while the other (Ampang) at end-3Q or early-4Q.
WCT has also participated in the contractors pre-qualification for the Klang Valley MRT (Sg Buloh-Kajang line) elevated structure works, which closed on April 13 2011. Despite more than 70 contractors having participated, we are positive on WCT being pre-qualified. The elevated structure, spanning an estimated 41.5km, offers a revised works value of RM12 billion to RM13 billion, we understand. The call for tender is expected in July 2011, and work awards towards end-2011.
1Medini condominium (gross development value raised to RM700 million from RM600 million) is still on track for its maiden launch in September. Unbilled sales of RM264 million (73% at Bandar Parklands, 27% in Sabah) should provide for stronger property earnings ahead. The terms are still being finalised with financing issues being sorted out.
WCT has a 70% stake in the concession, together with Malaysia Airports (30%).
WCT has also participated in the contractors pre-qualification for the Klang Valley MRT (Sg Buloh-Kajang line) elevated structure works, which closed on April 13 2011. Despite more than 70 contractors having participated, we are positive on WCT being pre-qualified. The elevated structure, spanning an estimated 41.5km, offers a revised works value of RM12 billion to RM13 billion, we understand. The call for tender is expected in July 2011, and work awards towards end-2011.
1Medini condominium (gross development value raised to RM700 million from RM600 million) is still on track for its maiden launch in September. Unbilled sales of RM264 million (73% at Bandar Parklands, 27% in Sabah) should provide for stronger property earnings ahead. The terms are still being finalised with financing issues being sorted out.
WCT has a 70% stake in the concession, together with Malaysia Airports (30%).
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