Gamuda Shares Rise On RM1.72 Bln Data Centre Contract Win

KUALA LUMPUR, April 20 (Bernama) -- Gamuda Bhd shares rose in early trade today following news of its RM1.72 billion data centre contract win in Port Dickson.

In a note today, MBSB Investment Bank Bhd said the construction group secured the hyperscale data centre job, marking its first major contract for the year and lifting its order book to about RM45.5 billion, keeping it on track to meet its target of RM50 billion to RM55 billion for 2026.

“The project, which covers core and shell as well as mechanical, electrical and plumbing works, is expected to contribute to the group’s earnings from the financial year 2027 onwards,” it said.

MBSB remained positive on the stock, maintaining a “buy” call and target price of RM5.60, citing strong earnings visibility and a robust pipeline of infrastructure, data centre and renewable energy projects across Malaysia and overseas.

At 10.30 am, Gamuda shares rose one sen to RM4.38, with 3.90 million shares traded on Bursa Malaysia.

-- BERNAMA