Damansara Realty, CSCEM jointly bid for rail project

by NUR HAZIQAH A MALEK

Damansara Realty Bhd is partnering China State Construction Engineering (M) Sdn Bhd (CSCEM) to tender for the Johor Baru-Singapore Rapid Transit System (RTS) railway project.

Damansara Realty group CEO Brian Iskandar Zulkarim (picture) said there will be a formal partnership between the two companies if the tender is successful.

“This partnership brings to the table a strong value proposition, combining the specialised skills, technical knowledge and experience of both Damansara Realty and CSCEM,” he said.

Damansara Realty’s core businesses are integrated facilities management (IFM) and project management consultancy, whereby the company specialises in project planning and development, maintenance and operations, car park solutions, cashless payment solutions and assets management.

CSCEM MD Lyu En said cooperation with Damansara Realty will enhance the project’s success.

“With our strong track record in management and the strength of our performance in infrastructure, we believe we bring considerable advantages in implementation of this project,” he noted in a press release on Tuesday.

CSCEM is a subsidiary of China State Construction Engineering Corp, which ranked 24th among the Fortune Global 500 enterprises which specialise in infrastructure development and construction.

The RTS project is a 4km railway link that connects Bukit Chagar station in Johor Baru to Woodlands in Singapore, which is expected to be completed by the end of 2024.

Damansara Realty returned to the black after three years of consecutive losses, primarily backed by its IFM segment.

The company registered a net profit of RM14.73 million for its fourth quarter of 2017, versus a net loss of RM12.59 million in the previous year.

Brian Iskandar said the company is already bidding for two major and several average IFM works, with a monthly contract value of RM100,000 to RM1 million, or at least up to RM1 million to RM120 million per annum.