PETALING JAYA: Gadang Holdings Bhd’s wholly owned subsidiary Gadang Engineering (M) Sdn Bhd (GESB) has accepted a letter of award from TM Technology Services Sdn Bhd to design and develop the Klang Valley Data Centre in Cyberjaya, Selangor worth RM280 million.
In a filing with Bursa Malaysia today, Gadang said the contract is for a duration of two years and commenced on April 24, 2024, until April 23, 2026.
The contract is not expected to have an immediate material effect on the earnings per share, net assets per share, and gearing of the group for the financial year ending 2024.
However, it is expected to contribute positively to the earnings of Gadang and its subsidiaries for the financial year ending May 31, 2025 onwards, during the duration of the contract.
At the market close, Gadang’s share price was unchanged at 38 sen, giving the group a market capitalisation of RM280.3 million.