"As we reevaluate our remaining land bank potential, this divestment and monetisation strategy sets the groundwork for substantial technological, economic and community advancements in Johor.
With this deal, EcoWorld has joined other companies that have ridden the recent wave of artificial intelligence, particularly in data centres, which has swept through the capital market in Malaysia.
JLL Malaysia data centre team member Kent Seet said that besides Johor and Greater Kuala Lumpur, Negeri Sembilan and Kedah could see a rise in data centre development activities.
RHB IB said that with more contractors venturing into the DC construction market, players should develop their own respective niche in the DC supply chain.
The project will be built in three phases, with the construction of the first phase starting in the third quarter of this year and being completed in the fourth quarter of 2025.
UEM Sunrise will be collaborating with Logos in several areas, including end-to-end construction management, technical work, and assisting in government-related processes, such as licensing applications and securing state approvals.
Among other public-listed companies that have announced their own data centre ventures include YTL Power International Bhd (KL: YTLPOWR) and Sime Darby Property Bhd (KL:SIMEPROP).
Kerjaya is joining a bandwagon of Malaysian builders, which include Gamuda Bhd and Sunway Construction Group Bhd seeking highly lucrative contracts to build data centres and other industrial projects.
Gamuda’s established regional presence, track record, and the current growth in DC investment position the group well for further opportunities, according to Hong Leong Investment Bank (HLIB) Research.
More than a dozen analysts covering the stock raised their target prices to also account for the stronger-than-expected results announced on Tuesday.
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