KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
Gamuda Bhd (KL:GAMUDA) has secured a RM2.138 billion contract through its engineering unit to construct hyperscale data centres for Eco World Development Group Bhd (KL:ECOWLD).
Contract Details
Client: Quantum Alpha Sdn Bhd, a unit of EcoWorld.
Scope of Works:
Main structures of two data centre blocks.
Power substation and water reservoir.
Related infrastructure and facilities.
Timeline: Project begins 3Q2025, targeted completion by 3Q2027.
Strategic Significance
The award underscores Gamuda’s push into digital infrastructure, a growth area aligned with rising demand for cloud computing and AI.
Comes shortly after Gamuda’s tie-up with Gentari (Petronas’ clean energy arm) to develop 1.5GW of solar + storage projects aimed at powering hyperscale data centres.
Follows another major win this month: a RM1.13 billion highway project in Sarawak via joint venture with Naim Holdings Bhd.
Market & Analyst Reaction
Stock Performance: Gamuda fell 2.12% to RM5.55 on Friday, valuing the company at RM32.2 billion, despite the contract win.
Year-to-Date: Stock is up 17.09% in 2025.
Analyst Ratings:
Almost unanimous “Buy” calls from covering analysts.
Average TP: RM6.12.
CGS International holds the most bullish stance with a TP of RM7.30, citing a robust pipeline of expected contract awards.
Investment Takeaway
Gamuda’s entry into hyperscale data centre construction broadens its earnings base beyond traditional infrastructure. With multiple mega-projects secured in recent months and strong analyst backing, the stock remains a key construction and infrastructure play in Malaysia, though short-term price dips suggest profit-taking after strong YTD gains.
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