Analysts upbeat on Gamuda’s overseas venture, substantial order book
MIDF Research: “Its bulging order book of RM24.
MIDF Research: “Its bulging order book of RM24.
Quarterly revenue grew 20.
“We prefer players involved in the value chain of data centre construction over operators, as they also benefit from a surge in investment by hyperscalers.
“Overall collection has also improved significantly over the past few months.
Gamuda's core net profit could come in between RM230 million and RM250 million for the third quarter ended March 31, 2024 (3QFY2024), the research house said in an earnings preview note.
The construction firm announced that its wholly owned subsidiary, Grand Dynamic Builders Sdn Bhd (GDBSB), had accepted a letter of award for the construction of Plot B of a logistics hub from Strategic Sonata Sdn Bhd.
This strong project portfolio has strengthened IJM Construction's order book to RM7 billion, comprising high-profile private and public sector projects in building construction and civil engineering, ensuring near-term earnings visibility, said IJM.
As the main contractor, GDB has to design, build and maintain the five-storey ramp-up warehouse, complete with offices, amenities, and supporting facilities.
The new 20,000-square-foot design centre will focus on the development of next generation high-speed digital and analog instrumentation.
In April, two representatives of the affected areas, K Mukesh Kumar and Lim Hock Ming, filed a judicial review to seek a stay on the proposed development, a certiorari order to quash the MPS decision in January 9 to approve the project, that the MPS' decision is full of illegality, irrationality, procedural impropriety, and unreasonableness, and should be declared void.