• Gunung Capital’s (GC) wholly-owned subsidiary GPB Corp, has accepted a letter of award from the defence ministry to provide bus transportation for the armed forces personnel’s children to and from the nominated schools nationwide.
  • The company charters land-based vehicles such as coaches, vans and four-wheel drives.
  • The RM43.9 million contract comprise of a three-year service tenure, from 1 January 2017 till 30 November 2019.
  • The company estimates that 233 units of 44-seater buses and 85 units of 25-seater buses will be needed to fulfil its obligations under the service contract, which consist of a scope including 76 armed forces camps over 10 zones.

Significance: GC noted that the contract is expected to contribute positively towards its earnings for the financial year 2017 till 2019.