ORANGEBEAM Wins RM270m Contract From Paramount Property
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ORANGEBEAM Construction Sdn Bhd has clinched a RM270 million contract for a prime mixed development project at Seksyen 13 in Petaling Jaya, bringing its outstanding construction order book to RM959 million. The construction work is expected to commence in April 2019 and slated for completion by June 2021.
ORANGEBEAM Group Chief Executive Officer, Dato’ Faris Yahaya said, “We are pleased to have received a letter of award from Paramount Property Development Sdn Bhd for the project. This is a fitting testament to the trust and confidence that we have gained from our clients and partners, given our 30 years of experience in providing innovative solutions to some of the industry’s most complex construction challenges.”
The scope of work which will take 27 months to complete comprises service apartments, office blocks, sub-basement carpark, elevated carpark podium, and facilities floor containing swimming pool, lounge, kindergarten, multipurpose hall, basketball court, yoga and maze gardens.
“We would like to thank Paramount Property Development Sdn Bhd for the opportunity given to work together. This is a perfect expansion of our customer base, strengthening ORANGEBEAM’s revenue stream over the next two years. We will do our best in delivering our outstanding order book according to specifications and timeline,” added Faris.
Faris added that aside from the Paramount project, the remainder of ORANGEBEAM’s RM1.5 billion targeted new orders will come from highly technical and specialised infrastructure projects, as well as high-rise construction and development. ORANGEBEAM is actively seeking to expand beyond Malaysian borders and is targeting to secure their first project in the Southeast Asia region by 2020.
“Countries like the Philippines and Vietnam are at the forefront of ramping up their infrastructure spending,” said Faris. “The timing is right for us. While we look at digitisation and disrupting our industry, we can showcase our sector expertise beyond Malaysian shores.”