Gamuda Bags RM2.14b Hyperscale Data Centre Job in Selangor

KUALA LUMPUR (Aug 29): Gamuda Bhd’s (KL:GAMUDA) engineering arm has secured a RM2.138 billion contract to build hyperscale data centres at Eco Business Park V in Selangor, further cementing its role in Malaysia’s fast-growing digital infrastructure sector.

In a Bursa Malaysia filing on Friday, the group said the award came from Quantum Alpha Sdn Bhd, a unit of Eco World Development Group Bhd (KL:ECOWLD).

The project, slated to begin in the third quarter of 2025 and targeted for completion by the third quarter of 2027, covers the construction of two data centre blocks, a power substation, a water reservoir, and supporting infrastructure and facilities.

Gamuda: Hyperscale Data Centre

The contract win follows a series of major announcements by Gamuda. Earlier this month, the group partnered Gentari Sdn Bhd — the clean energy arm of Petroliam Nasional Bhd (Petronas) — to develop 1.5 gigawatts of solar and storage projects in Malaysia, designed to power hyperscale data centres.

Separately, Gamuda, via a joint venture with Naim Holdings Bhd (KL:NAIM), also secured a RM1.13 billion contract for the Limbang section of the Northern Coastal Highway in Sarawak.

Analysts remain upbeat on Gamuda’s growth prospects, with all but one maintaining “buy” calls on the stock. CGS International recently lifted its target price to RM7.30 — the highest among peers — citing expectations of further contract flows over the next 12 months.

Despite the positive pipeline, Gamuda’s share price slipped 2.12% to RM5.55 on Friday, giving the group a market capitalisation of RM32.2 billion. Year-to-date, the counter remains up 17.09%.

Business News