# Gamuda: Construction, Infrastructure and Regional Expansion

> Gamuda Berhad is a Malaysian engineering, construction and property group best known for tunnelling and rail, now earning a growing share of its work from Australia, Taiwan and Vietnam.

- Category: companies
- Language: en
- Status: published
- Updated: 2026-07-28
- Canonical: https://negaraku.md/en/companies/gamuda-berhad

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Gamuda started with a Malaysian expressway and grew into one of the region's biggest tunnelling and rail contractors. Today, a rising share of its work sits outside Malaysia.

## What is Gamuda Berhad?

Gamuda Berhad is a Malaysian engineering, construction and property group founded on 6 October 1976 in Ipoh, Perak. It listed on the Main Board of Bursa Malaysia (then the KLSE) on 10 August 1992.

The group operates across three broad areas: engineering and construction, property development under the Gamuda Land brand, and infrastructure. It trades on Bursa Malaysia under the ticker GAMUDA.

## What is Gamuda best known for?

Domestically, Gamuda made its name in rail and tunnelling. It helped build the SMART tunnel — described as the world's first dual-purpose stormwater-and-road tunnel — and pioneered the project delivery partner (PDP) model on the MRT Kajang Line, which opened ahead of schedule in July 2017.

It followed that with the MRT Putrajaya Line, completed in phases through 2023, and developed variable-density tunnel boring machines for soft-ground urban tunnelling. Gamuda also has a long track record in water supply, including the Sungai Selangor Water Supply Scheme.

## How did Gamuda perform financially?

In FY2025 (the financial year ended 31 July 2025), Gamuda reported record revenue of about RM15.97 billion, up 20% from RM13.35 billion in FY2024. Net profit rose about 10% to RM1 billion, from RM912.1 million.

The group kept gearing at 53%, below its self-imposed 70% ceiling, while property arm Gamuda Land recorded RM4.1 billion of sales and RM8 billion of unbilled sales.

| Metric (FY, ended 31 July) | FY2024 | FY2025 |
| --- | --- | --- |
| Revenue | RM13.35 bil | RM15.97 bil |
| Net profit | RM912.1 mil | RM1.0 bil |
| Construction order book (year-end) | — | RM38 bil |
| Property unbilled sales | — | RM8 bil |

## Why does the overseas order book matter?

Gamuda's construction order book reached a record RM38 billion at FY2025 year-end after RM25 billion of job wins during the year. By December 2025 it had climbed further to about RM46 billion, lifted by a run of Australian contracts.

At FY2025 year-end, domestic projects made up roughly half the order book, with data-centre work contributing around 10%. The balance reflects a deliberate push into higher-value overseas infrastructure — chiefly Australia and Taiwan.

| Market | Project | Announced value | Vehicle |
| --- | --- | --- | --- |
| Australia | Sydney Metro West – Stations Package West | A$2.7 bil (RM7.32 bil) | Gamuda Engineering |
| Australia | Marinus Link Stage 1 (balance of works) | A$994 mil (RM2.69 bil) | TasVic Greenlink (JV) |
| Australia | Carmody's Hill Wind Farm | A$265 mil (RM718 mil) | DT Infrastructure |
| Taiwan | Xizhi Donghu MRT | RM4.3 bil (full contract) | Gamuda-led JV (75%) |

The Australian expansion is anchored by Sydney Metro West, where Gamuda deployed Australia's first autonomous tunnel boring machines on the Western Tunnelling Package. In Taiwan, the Xizhi Donghu MRT award (22 October 2024) is Gamuda's biggest win to date in that market, a RM4.3 billion turnkey design-and-build contract in which Gamuda holds a 75% joint-venture share (about RM3.2 billion). On the property side, Gamuda Land has moved beyond Malaysia into Vietnam (Hanoi and Ho Chi Minh City), Singapore, Australia and the UK.

## Why it matters

Gamuda illustrates how a Malaysian contractor can diversify beyond a home market whose megaproject pipeline is lumpy and politically sensitive. Winning multi-billion-ringgit work in mature markets such as Australia gives it more predictable, longer-cycle revenue and validates its tunnelling technology abroad.

For Malaysia's construction sector, Gamuda is a bellwether: its order book mix — domestic rail and water, plus data centres and overseas rail — tracks where regional infrastructure spending is heading.

## What's next

Watch Gamuda's stated ambition to grow its order book further, its bidding pipeline across Australia, Taiwan and Singapore, and how much of future revenue comes from data centres and renewable-energy work such as wind farms and transmission links. Property momentum in Vietnam — where Gamuda Land's Hanoi and Ho Chi Minh City projects are key contributors — is the other line to track, alongside progress on the recently won Australian contracts through to their 2031 completions. Figures here reflect an AI draft pending human review.

## Sources

- Gamuda FY25 profit hits RM1bil; order book at record RM38bil — https://gamuda.com/2025/09/gamuda-fy25-profit-hits-rm1bil-order-book-at-record-rm38bil/news/ (Gamuda Berhad)
- Gamuda FY25 profit hits RM1bil; order book at record RM38bil — https://www.thestar.com.my/business/business-news/2025/09/19/gamuda-fy25-profit-hits-rm1bil-order-book-at-record-rm38bil (The Star)
- Gamuda announces new Aussie projects, order book soars to RM46bil — https://www.thestar.com.my/business/business-news/2025/12/18/gamuda-announces-new-aussie-projects-order-book-soars-to-rm46bil (The Star)
- Gamuda secures its biggest win to date in Taiwan with RM4.3B MRT — https://gamuda.com/2024/10/gamuda-secures-its-biggest-win-to-date-in-taiwan-with-rm4-3b-mrt/press-releases/ (Gamuda Berhad)
- Gamuda-developed autonomous TBMs make history in Sydney — https://www.thestar.com.my/news/nation/2024/08/29/gamuda-developed-autonomous-tbms-make-history-in-sydney (The Star)
- Milestones — https://gamuda.com/who-we-are/milestones/ (Gamuda Berhad)

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