Gamuda shares climb after RM1.5b land and works deal with Pearl Computing for massive data centre push
At 10.41 am, the counter rose 1.0 sen to RM4.39 with 3.55 million shares changing hands.
In a Monday Bursa Malaysia filing, Gamuda said the earthworks are expected to be completed in the third quarter of 2025 (3Q 2025), followed by the water treatment plant (2Q 2027) and off-river storage (4Q 2028).
The agreements encapsulated the company's one-stop solution for the fast-growing data centre sector, delivering top-to-toe land development, including civil works, utility connections, and water infrastructure, to deliver a ready-to-build platform for hyperscale clients.
'This one-stop model leverages the company's core engineering expertise and next-generation industrial building system, which accelerates structural delivery with off-site precision manufacturing,' it said.
Meanwhile, in a note, Kenanga Investment Bank Bhd viewed the deal positively as it marks the beginning of a large-scale data centre development with an estimated total construction value of up to RM20 billion.
'Given Gamuda's direct involvement in the land deal and infrastructure works, it is well-positioned to secure future data centre contracts,' it said. — Bernama
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