Gamuda Could Exceed Order Book Target On Potential RM4 Billion Water Deal

Quick Summary:

CIMB Investment Bank Bhd (CIMB Securities) has reiterated a BUY call on Gamuda Bhd, maintaining its target price at RM5.50, citing strong earnings prospects and the potential award of RM4 billion in water-related infrastructure contracts tied to the Ulu Padas Hydroelectric Dam project in Sabah.The stock closed at RM3.94.

As of January 2025, the group had already secured RM14.5 billion in new contracts, bringing its order book to RM36 billion.

The project, with a targeted commercial operation date of 31 December 2030, will deliver around 1,052 GWh of clean energy annually and contribute to Sabah’s 35% renewable energy goal.

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Category: EconomyBusiness

Markets: Malaysia

Topics: News Gamuda

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-22 @ 02:36:20 (18 hours ago)

News Timezone: GMT +8:00

News Source URL: businesstoday.com.my

Language: English

Article Length: 548 words

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Sentences: 22 lines

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Copyright Owner: © Business Today

News ID: 28134211

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