Malaysian tycoon Jeffrey Cheah’s Sunway Construction wins $249M Johor data center job
Sunway Construction Group (SunCon), part of tycoon Jeffrey Cheah’s Sunway conglomerate, has secured a RM1.02 billion (US$249 million) engineering contract for a data center project in Malaysia’s Johor state.
Malaysian tycoon Jeffrey Cheah's Sunway Construction has secured a $249 million contract to build a data center in Johor, Southeast Asia. The award, obtained through a letter of award, pertains to the mechanical, electrical, and plumbing fit-out of the facility. Works on the project commenced, with completion expected by the fourth quarter of 2027.
The identity of the client and the exact location of the data center remain undisclosed. This latest contract brings Sunway Construction's new orders for the financial year to RM5.8 billion and its total outstanding order book to RM10.4 billion. Earlier this year, Sunway Construction secured an additional RM664.4 million worth of works for two data center-related substation projects in Johor.
The company's shares have surged over 37% this year, valuing the business at RM10.43 billion. Sunway Construction is part of the Sunway Group, a diversified conglomerate under Cheah's control. Forbes ranked Cheah as Malaysia's 8th richest person in 2022, with an estimated net worth of $5.3 billion.
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