The company said the contract, awarded to its wholly-owned subsidiary Pekat E & LP Sdn Bhd, covers the construction, testing, commissioning and operational setup of earthing and lightning protection systems across multiple areas, including data halls, mechanical and electrical yards, and the offshore development centre hub.
The proposed disposal is part of its strategy to monetise non-core assets, unlock value, and strengthen its cash position to meet operational and working capital requirements.
The properties comprised 25 units of residential apartments, 5 units of commercial shops, 142 units of offices, 284 units of carpark and 99 units of motorcycle parking spaces.
The Marshgate Lane project forms part of Gamuda Land’s plan to deliver up to 3,000 student beds across UK cities in the next five years.
Responding to reports that Gamuda had withdrawn its bid for the segment, Chow said the state government had not received any official notification and that the issue will not affect the overall project.
Mudajaya said the move is intended to reduce share price volatility, noting that its low trading price means even minor fluctuations can result in outsized percentage changes.
Industry leaders from Malaysia and Singapore stressed the urgency for sustainable urban developments, showcasing examples of low-carbon, biodiversity-focused projects, nature-based solutions and water management for climate-resilient cities.
Overseas property earnings advanced 68%, contributing to the 22% overall profit growth.
In a filing with Bursa Malaysia, Gamuda said the provisional tender result was announced by Singapore’s Housing and Development Board (HDB) after the tender closed on Thursday.
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