GFM bags RM51.8m contract to manage PPNS

PETALING JAYA: GFM Services Bhd’s wholly owned subsidiary Global Facilities Management Sdn Bhd, has bagged a RM51.8 million contract from Sinar Uni-Resources Sdn. Bhd, to provide integrated facilities management (FM) services for the Sabah State Administration Centre (PPNS) in Kota Kinabalu.
The group’s board of directors said in a Bursa Malaysia filing, the five-year contract which will run from January 2018 until January 2023, is expected to contribute positively to the earnings of GFM Group for the financial year ending Dec 31, 2018.
“It is a significant addition to our portfolio which will contribute positively to the group’s financial performance with a recurring revenue of RM10.4 million per annum, about 10% of GFM’s total revenue in FY2017,” said its managing director Ruslan Nordin.
“The contract will further replenishes our current orderbook to RM300 million,” he said.
GFM’s shares fell 1.02% to 48.5 sen with some 14,500 shares done.