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ORANGEBEAM Bags RM270 million development contract

7 March 2019

Business Today

ORANGEBEAM Construction Sdn Bhd was recently awarded a RM270 million
contract by Paramount Property Development Sdn Bhd for a prime mixed development project at Seksyen 13 in Petaling Jaya, bringing its total outstanding construction order book to RM959 million.

The project, which comprises of 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, would take 27 months to be completed. Construction work is expected to start next month and targeted to be completed by June 2021.

“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,’ said ORANGEBEAM Group chief executive officer, Dato’ Faris Yahaya.

He thanked Paramount Property Development for the opportunity given to work together and said that it was a perfect expansion of ORANGEBEAM’s customer base, strengthening its 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.

Other than the Paramount project, he said the remainder of ORANGEBEAM’s RM1.5 billion targeted new orders would come from highly technical and specialised infrastructure projects, as well as high-rise construction and development.

Faris also said that ORANGEBEAM was actively seeking to expand beyond Malaysian borders and was 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. The timing is right for us. While we look at digitisation and disrupting our industry, we can showcase our sector expertise beyond Malaysian shores.”

To date, ORANGEBEAM has completed more than RM13.7 billion worth of projects in total. Guided by a BOLD Blueprint, it looks to disrupt the way it builds and develops the future by combining the company’s sector expertise with selective technologies in delivering highly-technical and specialised offerings to its customers.

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