PETALING JAYA: Malaysian Resources Corp Bhd’s (MRCB) entry into the artificial intelligence (AI)-ready data centre (DC) space has drawn a positive response from analysts.
MRCB recently signed a collaboration agreement with Perintis Akal Sdn Bhd (PASB), a wholly-owned subsidiary of Pemandu Partners International PLT, to develop a DC facility in Bukit Jalil.
The project is estimated to carry a gross development cost of RM2.1bil.
Besides being the owner of the 9.2-acre leasehold land, MRCB will also serve as the asset owner and master developer for the DC.
PASB will act as the long-term tenant and operator of the DC under a 10-year lease.
In a note, CIMB Research said the proposed DC facility not only marks MRCB’s entry into the digital infrastructure space, but also enables the group to monetise part of the 76-acre Bukit Jalil Sentral site that MRCB owns through Bukit Jalil Sentral Property Sdn Bhd (BJSP).
This follows MRCB’s acquisition of the remaining 80% stake in BJSP from the Employees Provident Fund for RM1.5bil in April 2026.
“We believe that the Bukit Jalil DC facility could serve as a catalyst for accelerating the development potential of MRCB’s remaining land bank in Bukit Jalil Sentral.
“Furthermore, tenancy risk should be mitigated by the 10-year lease with PASB for the proposed DC facility.
“We leave our earnings forecast unchanged, pending further updates regarding the project’s key valuation parameters,” the research house said.
CIMB Research has a “buy” call on MRCB, with a target price of 48 sen per share.
Designed to support next-generation AI applications, the 500,000 sq ft DC facility in Bukit Jalil has an information technology load of 65MW and will be built in accordance with strict Uptime Institute Tier III requirements.
