GDB Holdings Bhd has secured a sub-contract valued at RM118.99 million from I-Ilham Corp Sdn Bhd for construction and completion work related to the proposed Phase 3 of the Sarawak flood forecasting and warning programme. The contract, announced in a Bursa Malaysia filing, marks a significant development for the company.

The agreement takes effect from the date of acceptance and is scheduled for completion by November 29, 2029. GDB indicated that, barring unforeseen circumstances, the project is expected to contribute positively to the company’s earnings throughout the contract period.

According to the filing, the sub-contract will not impact GDB’s share capital or the ownership stakes of its major shareholders. The company plans to finance the project using a combination of internally generated funds and bank borrowings.

The Sarawak flood forecasting and warning programme aims to enhance flood preparedness and risk management in the region, though specific details about the project’s scope under Phase 3 were not disclosed. This initiative is part of broader efforts in Sarawak to mitigate the impact of recurring flood events.