Gamuda Berhad, one of Malaysia’s most prominent engineering and infrastructure conglomerates, has been making significant headlines in 2026. From record-breaking order book milestones to major international contract wins and a bold push into renewable energy, the company is on one of its most ambitious growth trajectories in its five-decade history.
Here is a comprehensive look at the latest news surrounding MMC Gamuda — covering its biggest contract wins, international expansion and what analysts are saying about the road ahead.
Record Order Book Hits RM51.6 Billion
In a major milestone for the group, Gamuda’s outstanding order book surged to RM51.6 billion in May 2026 — surpassing its own internal target of RM50 billion by end-2026 ahead of schedule. This figure represents the cumulative value of confirmed projects the company is currently working to deliver across Malaysia, Australia, Taiwan and beyond.
HLIB Research confirmed that Gamuda remained on course to achieve its RM50 billion order book target by end-2026, with another RM7 billion to RM8 billion in potential wins still in sight. Analysts have pointed to Gamuda’s diversified pipeline of domestic and international projects as the key driver behind this sustained momentum.
10th Taiwan Contract — Kaohsiung MRT Worth RM3.3 Billion
In May 2026, Gamuda secured its tenth infrastructure project in Taiwan — a landmark achievement that underscores the company’s growing regional footprint. The contract involves the civil works and electrochemical facilities for the Kaohsiung Metropolitan MRT Xiaogang-Linyuan Line, awarded by the Kaohsiung City Government MRT Bureau and valued at RM3.3 billion.
The project was awarded to an unincorporated joint venture between Gamuda, which holds a 70 percent stake, and Taiwanese construction firm Shang Ting Construction Co Ltd. This latest win builds on Gamuda’s ongoing works on the Kaohsiung MRT Yellow Line and its earlier completion of the Orange Line, cementing the company’s position as a trusted infrastructure partner in Taiwan’s rail development programme.
The contract win brought Gamuda’s year-to-date wins to RM21 billion, beating its financial year 2026 order book win assumption of RM20 billion.
Major Renewable Energy Push in Australia
Gamuda’s Australian subsidiary DT Infrastructure has been at the centre of the company’s renewable energy expansion in 2026. On 20 May 2026, Gamuda secured contracts worth over RM3.1 billion to build two solar and battery hybrid projects in Australia — described by analysts as the company’s largest renewable energy contract win to date.
This followed the earlier award of the Jinbi Solar Farm project in Western Australia — a 75MW facility consisting of 160,000 solar panels for Yindjibarndi Energy Corp (YEC). Once operational, the project will support Rio Tinto’s regional power network in the Pilbara, contributing to the decarbonisation of one of Australia’s most energy-intensive industrial regions.
Recent renewable energy wins for Gamuda in Australia include:
- Jinbi Solar Farm — 75MW solar project in Western Australia supporting Rio Tinto’s Pilbara operations
- Boulder Creek Wind Farm — wind energy project building on DT Infrastructure’s growing RE portfolio
- Solar and battery hybrid projects — two projects with a combined value of RM3.1 billion, Gamuda’s largest RE contract to date
- Ulu Padas Sabah Project — integrating massive floating solar into its domestic renewable energy pipeline
Penang LRT Cross-Sea Link — A Major Upcoming Opportunity
Back on home soil, Gamuda and MMC Engineering are widely expected to lead the bid for the highly anticipated Penang LRT Cross-Sea Link project. The project, which forms a key part of the broader Penang Transport Master Plan, would connect the island to the mainland via a light rail transit system — one of the most ambitious urban transport projects in Malaysia’s history.
HLIB Research has identified the Penang LRT systems package as one of the most significant near-term contract opportunities for Gamuda, alongside the Perak water supply scheme and continued renewable energy pipelines in both Australia and Malaysia.
Analyst Outlook and Share Performance
The market response to Gamuda’s 2026 performance has been broadly positive. Multiple research houses have maintained or upgraded their buy calls on the stock, with target prices ranging from RM5.41 to RM6.64.
Key analyst positions on Gamuda as of May 2026:
- HLIB Research — reiterated Buy call with a target price of RM5.41, citing strong order book momentum and RE credentials
- BIMB Research — sees upside to RM6.29, highlighting Gamuda as one of the strongest beneficiaries of the regional infrastructure upcycle
- Phillip Capital — Buy call with a target price of RM6.64, citing the latest RE contract win as a major positive catalyst
- RHB Research — noted that year-to-date FY26 new job wins of RM21.2 billion are slightly above its full-year assumption
Conclusion
Gamuda’s 2026 story is one of remarkable momentum — a company that has successfully transformed from a domestic infrastructure contractor into a diversified regional powerhouse spanning tunnelling, rail, renewable energy and property development across Malaysia, Australia, Taiwan and beyond.
With an order book exceeding RM51.6 billion, a record pipeline of international wins and a growing position in the global energy transition, Gamuda is firmly on track to deliver one of its most consequential years yet.