Sunway Construction lands RM2.66b in data centre contracts in Johor and Selangor
Malaysian builder Sunway Construction has secured two major data centre contracts worth a combined RM2.66 billion. The jobs comprise MEP fit-out works in Johor and a full build in Serendah, Selangor, lifting the firm's year-to-date new orders to RM9.8 billion.
Sunway Construction (SunCon) has landed two data centre contracts in Johor and Selangor worth a combined RM2.66 billion (about US$629 million), the company disclosed in stock exchange filings this week. The contracts bring the total number of data centre-related jobs secured by SunCon this year to seven, lifting its year-to-date new orders to RM9.8 billion and its outstanding order book to RM13.4 billion.
In a filing on Wednesday, SunCon said its wholly owned subsidiary had received a letter of award from a US-headquartered multinational technology corporation for RM920.8 million of additional mechanical, electrical and plumbing (MEP) fit-out works for an ongoing data centre development in Johor. Work began with the letter of award and is expected to be completed in the first quarter of 2028.
The following day, the company announced that the same unit had also landed a RM1.74 billion agreement with an international hyperscaler to build a hyperscale data centre in Serendah, Selangor. Construction of the facility, including its core and shell structures, campus infrastructure and MEP fit-out, is scheduled to commence in the fourth quarter of 2026 and wrap up in four years.
For the second quarter ended 30 June, SunCon posted a 23.5% year-on-year jump in net profit to RM103.59 million, supported by improved profit margins across its operating segments. Revenue fell 31.1% to RM1.02 billion, mostly due to lower construction revenue.
SunCon shares closed 0.91% higher at RM7.75 on Thursday, taking their gains so far this year to about 36% and giving the company a market capitalisation of RM10.3 billion. The firm is one of four listed businesses under Sunway Group, which tycoon Jeffrey Cheah founded as a tin-mining company and transformed into a diversified conglomerate with interests in construction, real estate, healthcare, education and infrastructure. Forbes ranked Cheah eighth on its list of the richest people in Malaysia earlier this year, with a net worth estimated at US$4.2 billion.
