Gamuda confirms JV submitted highest bid for Singapore land

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KUALA LUMPUR (Sept 18): Gamuda Bhd confirmed the tender submitted by its wholly-owned subsidiary Gamuda (Singapore) Pte Ltd, jointly with Evia Real Estate Pte Ltd for a 51,411.9 sq m (5.14ha) land parcel Singapore's Anchorvale Crescent site, has emerged as the highest bid at S$318.89 million (RM963 million). 

In a statement to Bursa Malaysia today, Gamuda said Singapore's Housing & Development Board (HDB) had on Friday (Sept 14) announced the provisional tender results, after the tender closed on that day. 

The land has been earmarked for a planned executive condomimium development, the statement said.

Gamuda said: "The board of directors of Gamuda Bhd wishes to inform that the tender submitted by Gamuda (Singapore) Pte Ltd, a wholly-owned subsidiary of Gamuda in Singapore (Gamuda Spore) jointly with Evia Real Estate (7) Pte Ltd (Evia) at a tender price of S$318.89 million (equivalent to RM963.0 million), has emerged as the highest bidder."

"The provisional tender results was announced by the Housing & Development Board of Singapore, after the tender closing date on 14 September 2018. Gamuda will make the necessary announcement on the tender upon receipt of the letter of acceptance, which will be issued by HDB to the successful tenderer, namely Gamuda Spore-Evia Joint Venture in due course," Gamuda said.

At Bursa Malaysia, Gamuda shares rose three sen or 0.88% at 12:30pm to settle at RM3.45. The stock saw 948,200 shares traded.