Gamuda signs water deal as UBS targets MYR 6.00 for Gamuda stock

Published on 10/25/2026 at 01:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Gamuda expects revenue and earnings from fiscal 2027. Gamuda stock had MYR 63.90 billion in orders and FY2026 revenue of MYR 18.33 billion.

Contracts and earnings visibility

Gamuda signed the Northern Perak water agreement on October 20, 2026.
FY2026 revenue reached MYR 18.60 billion after rising 14 percent.
UBS upgraded Gamuda to Buy and set a MYR 6.00 target on October 1, 2026.

Gamuda, MYL5398OO002, Illustration mit AI erstellt.

Gamuda Berhad (ISIN MYL5398OO002) signed a Northern Perak water agreement on October 20, 2026, covering a scheme designed to transfer 1,500 million liters of raw water daily. The Star reported that Gamuda expects revenue and earnings from the project starting in the financial year ending July 31, 2027.

Three contracts, three dates

On September 29, 2026, Gamuda reported FY2026 revenue of MYR 18.60 billion, up 14 percent, and net profit of MYR 1.05 billion, up 5 percent. Its construction order book reached MYR 61.00 billion, according to Gamuda Berhad.

On October 14, 2026, a Gamuda-led joint venture won a TWD 29.22 billion Keelung MRT design-and-build contract in Taiwan. Gamuda's participating interest was 72.84 percent, giving it an attributable contract value of about MYR 2.71 billion, according to MarketScreener.

On October 20, 2026, the Northern Perak agreement added a water infrastructure and treatment project to that contract pipeline. The first treatment plant is planned at 500 million liters per day, with an initial 300 million liters per day designated for Penang, The Star said.

What does the water project mean?

The project adds a long operating horizon, but its contribution is conditional. The first phase has a six-year development period, followed by 40 years of operation and maintenance. Implementation of the raw-water infrastructure still depends on funding and contractual arrangements between state and federal governments.

Analyst support provides a separate valuation reference. MarketScreener reported on October 1, 2026, that UBS upgraded Gamuda from Neutral to Buy and set a MYR 6.00 price target. The target sits alongside a reported order book of MYR 63.90 billion in October analyst coverage.

What comes next

Gamuda's next major operating milestone is the financial year ending July 31, 2027, when the company expects the Perak scheme to begin contributing to revenue and earnings. The water supply agreement also points to a planned 40-year operating period after commercial operation begins.

Gamuda stock and investor context

Gamuda is listed on Bursa Malaysia under the ticker GAMUDA.KL and operates in construction and engineering, with property development and club operations as additional segments. The listing and ISIN are identified by Global Banking and Finance Review.