Gamuda Expands Data Centre Portfolio With RM1.71bn Contract

Gamuda has been awarded a RM1.71bn contract to construct a single-storey hyperscale data centre (DC) in Port Dickson, Negeri Sembilan, for a US-based multinational technology firm.

The build-only project, which includes site infrastructure, core and shell construction, and MEP fit-out, is scheduled to commence in Q3 2026 and to be completed by Q2 2028. While exposed to typical input cost volatility, Gamuda is well-equipped to mitigate these risks through its established expertise.

We view this development favourably, as it reinforces the Group’s standing in the fast-growing data centre construction space. This latest job win increases Gamuda’s total outstanding orderbook to an estimated RM54.0bn.

Although the award is positive, it remains within our existing projection of RM20.0bn in new contract wins by the end of CY26. As such, we maintain our Outperform call on Gamuda with an unchanged SOTP-based TP of RM5.60.

Source: PIB

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