PETALING JAYA: Gamuda Bhd
’s wholly- owned Australian subsidiary, DT Infrastructure Pty Ltd, has bagged two engineering, procurement and construction (EPC) contracts for the delivery of the Ganymirra and Majors Creek solar and battery hybrid projects.
In a statement, the group said the EPC contracts, signed with the projects’ respective trustees, are valued at A$284.53mil (RM822.3mil) apiece, and have a tenure of two years from the second half of financial year 2026 until January 2029.
The Ganymirra and Majors Creek solar and battery hybrid projects are two adjacent solar farms being delivered as one project.
Moreover, the scope of the contract includes the design, procurement, construction, testing and commissioning of the solar power farms, battery energy storage systems and associated balance of plant infrastructure.
Following the completion of the project, DT Infrastructure will also provide operations and maintenance services, supporting the long-term performance, reliability and optimisation of both assets.
“Once operational, the projects will contribute to Queensland’s renewable-energy transition by delivering reliable renewable generation supported by large-scale battery energy storage, helping to strengthen the state’s electricity network and reduce carbon emissions.
“During delivery, the projects will create employment opportunities, support local businesses and suppliers, and generate lasting economic benefits for the Townsville region,” said Gamuda.
Meanwhile, an analyst said he was positive on the contract wins.
“It is indeed a positive development, as it strengthens Gamuda’s order book and reinforces Australia as an increasingly important growth market.
“Going forward, the group’s outlook remains positive, supported by a strong pipeline of infrastructure and renewable- energy opportunities in Australia and Malaysia.”
He pointed out that Gamuda’s growing expertise across solar, wind, battery storage and transmission should provide opportunities for further contract wins and improve earnings visibility over the medium term.
“That said, execution will be key. With Gamuda accumulating a sizeable portfolio of Australian projects, investors will be watching closely for timely project delivery and healthy margins.
“Overall, the latest award further strengthens the case for Australia to become a meaningful contributor to Gamuda’s long-term growth.”
Gamuda’s net profit rose 5% to RM258mil in the third quarter ended April 30, 2026, supported by strong contributions from its domestic construction order book.
Revenue for the quarter surged 43.5% to RM4.43bil from RM3.09bil a year earlier, while earnings per share edged up to 4.34 sen from 4.30 sen previously.
In a filing with Bursa Malaysia in June, the engineering, property, and infrastructure group also declared a second interim dividend of five sen per ordinary share, bringing the total year-to-date payout to 10 sen.
For the nine months to April 30, the group posted a 4.7% higher net profit of RM702.6mil, while revenue grew 13% to RM12.6bil.
Gamuda said its construction revenue and earnings for the period rose 15% and 7%, respectively, bolstered by robust progress in domestic projects.
