Gamuda among top three companies in Asia

PETALING JAYA: Gamuda Bhd is one of the top three best Asian companies in the industrial, including infrastructure, sector, making it the only Malaysian company on the list.

The ranking by Institutional Investor Research (II Research) was based on votes from 2,493 portfolio managers and buy-side analysts, and 492 sell-side analysts.

The company was also recognised as one of the “most honoured companies”.

II Research noted that 1,078 companies in Asia received votes in this year’s Asia Pacific (ex-Japan) executive team – rest of Asia survey. Of the companies, 136 received a first, second, or third place ranking in one or more of the categories like “Best CEO”, “CFO”, “IR professional”, “IR programme”, “ESG” and “Company board”.

A total of 45 companies were distinguished as “most honoured” for having the most cumulative success in the rankings, and Gamuda was one of them.

The group was ranked second for the “Best CEO” and “ESG” categories, first for “best investor relations professional” (Clarence Boudville), and third for “overall best investor relations”. Gamuda’s chief executive officer is Datuk Lin Yun Ling.

In a statement, Gamuda said the achievement solidifies its regional strategic growth across the Asia-Pacific market, underscored by the prestige of II Research, a global independent performance and qualitative market intelligence.

“The recognition further highlights Gamuda’s strong financial performance, exceptional management and proactive investor relations approach that have driven consecutive project victories in Australia, Taiwan, Vietnam, Singapore, the United Kingdom and Malaysia.

“The group will continue its nearly five decades of winning trajectory on innovation, strategic acumen, human capital and resilience,” the company said yesterday.

In the second quarter ended Jan 31, 2024, Gamuda’s net profit rose by 7% year-on-year (y-o-y) to RM208.8mil or earnings per share of 7.65 sen, while revenue surged by 131% y-o-y to RM3.3bil.

In a filing with Bursa Malaysia, Gamuda said this was on the back of higher contribution from overseas projects which stepped up to fill the gap left by the decline in domestic revenue and earnings as the mass rapid transit two project was completed last year.

Quarterly revenue from overseas projects surged to contribute 77% of overall revenue (previously 42%) while quarterly overseas net profit surged to contribute 58% of overall net profit (previously 50%).Going forward, Gamuda’s outlook is supported by a large construction order book of RM24bil and unbilled property sales of RM6.7bil.

The group said this year’s performance would be driven by overseas construction activities as projects in Australia and Taiwan continue to pick up pace.