KUALA LUMPUR: Following Gamuda Bhd
’s land acquisition in Vietnam, brokerage firms expect a stronger recovery in its earnings and revenue from the financial year ending July 31 (FY22) onwards.
Gamuda’s wholly-owned sub-subsidiary in Vietnam, Gamuda Land HCMC Joint Stock Co, has acquired 13.8 acres of land in Binh Duong New City for US$53.88mil (RM228.5mil).
The land is part of a 2,600-acre integrated township, which is set to be the administrative centre of the nation’s affluent Binh Duong province.
Gamuda plans to develop the land into 349 landed properties, targetting the local market by tapping into a young demographic and growing middle-income group.
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