AWC gives up share gains after data centre contract win
Apex Securities said the contract, worth close to RM40 million, was the third awarded to AWC by Gamuda.
AWC Bhd shares briefly advanced on Oct 15 following a data centre contract win before retreating to 69 sen at 11.15am. Apex Securities put the contract value at close to RM40 million and said it was AWC’s third award from Gamuda Bhd.
The engineering services firm’s shares reached 70.5 sen, up 1.5 sen, before surrendering the gain as the broader market fell. More than two million shares changed hands, with AWC’s market capitalisation at RM232 million.
AWC said its work at a hyperscale data centre in Port Dickson, Negeri Sembilan, would cover sanitary works, fire hydrant and water distribution systems, rainwater harvesting and cold water systems. Preliminary work started on Aug 14; completion is scheduled for Oct 22, 2027.
Apex Securities retained its ‘buy’ recommendation and lifted its target price to RM1.25, an increase of three sen. The research house said phased development could bring further work packages at the same sites.
M+ Global said the award was already reflected in its forecasts and took AWC’s jobs on hand to nearly RM900 million. Separately, Bloomberg data showed three ‘buy’ calls among four analysts covering AWC, while Berjaya Research had a ‘hold’ recommendation. Their average 12-month target price was 84 sen.
