Broker Name: Maybank Investment Bank Berhad
Date of Report: April 20, 2026
Excerpt from Maybank Investment Bank Berhad report.
Report Summary
- Stock: Gamuda (GAM MK)
- Action: BUY (Maintain)
- Target Price: MYR 5.30
- Current Price (at time of report): MYR 4.37
- Key Highlights:
- Gamuda has secured a MYR1.72b contract to construct a hyperscale data centre in Port Dickson, Malaysia, for a US-headquartered tech company, likely Pearl Computing.
- This win lifts Gamuda’s orderbook to MYR45.5b, with year-to-date new job wins at MYR15.1b (60% of FY26E target).
- The data centre contract includes a cost pass-through element, minimizing margin risk from material price volatility.
- Earnings estimates are unchanged, as this job was within expectations.
- Key earnings drivers include a robust construction orderbook and strong pipeline of property sales.
- Gamuda’s SOTP-based target price is maintained at MYR5.30, with upside from further job wins and property sales.
above is an excerpt from a report by Maybank Investment Bank Berhad. Clients of Maybank Investment Bank Berhad can be the first to access the full report from the Maybank Investment Bank Berhad website : https://www.maybank.com/investment-banking
