Gamuda Berhad has secured an exclusive partnership with Perbadanan Kemajuan Negeri Perak (PKNPk) to develop critical water infrastructure in Northern Perak. This project aims to transfer raw water from Sungai Perak to Bukit Merah and establish treated water distribution infrastructure, ensuring long-term water sustainability.
While the official joint-venture structure and contract award details are yet to be announced, the project is expected to be significant, likely exceeding RM1.0 billion, contributing to Gamuda’s already strong order book.
Gamuda’s outstanding order book stands at RM37.0 billion, with a target of RM40–45 billion by the end of 2025. Other potential projects include a water supply scheme in Sabah, renewable energy contracts in Australia, and data center projects.
With strong overseas expansion, consistent major contract wins, and leading positioning in Malaysia’s mega projects, Gamuda remains a top pick in the construction sector. The target price remains at RM5.42, based on a projected FY26F EPS of 25.8 sen and a PER of 21x.
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