Gamuda Land doubles down on organic growth, shrugs off Sunway-IJM threat
The developer is set to launch RM10 billion in projects across Malaysia, Vietnam and Singapore over the next 18 months
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[KUALA LUMPUR] As a potential mega Sunway-IJM merger may redraw Malaysia’s property landscape, Gamuda Land is staking out a different course – grow organically, expand regionally and stay out of the merger game.
“For now, we are not looking at mergers and acquisitions. We do not feel threatened by it in any way,” said newly appointed chief executive Gim Teck Yew. He was responding to concerns that a potential Sunway-IJM merger could intensify competition for Gamuda and its property arm, Gamuda Land, across the construction and infrastructure sectors.
“Our goal is clear: Three years from now, we aim to double our revenue and profit,” Gim told The Business Times in an interview.
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