KUALA LUMPUR, August 29, 2025 – Leading infrastructure group Gamuda Bhd has clinched a high-value data centre construction contract worth approximately RM2.14 billion, contributing to the company’s soaring order book that is nearing its 2025 year-end target.
While the agreement details remain under wraps, industry analysts link this latest job to one of the hyperscale data centre developments in Selangor—likely tied to ongoing projects by Pearl Computing affiliated with global tech giants. This win follows previous successes across Malaysia’s digital infrastructure boom. The contract is reported to involve core and shell construction work, a domain where Gamuda’s prowess in large-scale precast and integrated construction systems gives it a notable advantage over competitors.
With this addition, Gamuda’s outstanding order book is expected to surpass RM37.2 billion as of early July 2025—just shy of its ambitious year-end target of RM40–45 billion. This milestone reflects robust momentum in both domestic and international bids, including renewable energy projects in Australia, water infrastructure works in Sabah and Perak, and several data centre tenders in Selangor and Negeri Sembilan.
Market watchers see Gamuda as well-positioned to capture significant portions of Malaysia’s expanding digital infrastructure pipeline. Maybank Investment Bank forecasts that involvement in the ongoing data centre wave could secure up to RM10 billion in contracts from hyperscalers like Google, representing nearly 27% of Gamuda’s current order book. Meanwhile, RHB Investment Bank continues to back Gamuda, highlighting its strong position in energy and water tenders which bolster its contract pipeline for the remainder of 2025 and beyond.
Gamuda’s strategic pivot toward hyperscale digital projects is further demonstrated through its land acquisition in Springhill Industrial Park, Negeri Sembilan. This 389-acre plot offers the company potential to develop data centre capacity spanning 700 MW to 1 GW, with anticipated construction values ranging from RM14–20 billion.
Analysts remain bullish, with research firms affirming buy ratings and revised target prices. CIMB Securities lifted its forecasts for Gamuda’s FY2026–FY2028 earnings and increased its target share price to RM6.40, citing this strengthened pipeline. Hong Leong IB maintains a bullish outlook, pointing to the company’s differentiated integrated delivery model—combining land, water, power, and digital infrastructure—as a key advantage. Additionally, the broader Malaysian data centre boom is forecast to generate nearly 31,000 jobs annually by 2030, further reinforcing the sector’s economic significance.
