ACE Market-listed electrical solutions innovator Powerwell Holdings Bhd has been awarded a supply contract valued at RM14.75 mil by a leading international contractor to supply, deliver, supervise and commission electrical low-voltage boards for a data centre in Malaysia.
The supply contract secured by its wholly owned subsidiary Kejuruteraan Powerwell Sdn Bhd underscores the group’s role in enhancing Malaysia’s data centre infrastructure.
The project which is slated for completion by 3Q 2024 will contribute positively to Powerwell’s consolidated earnings and net assets for its financial year ending March 31, 2025.
“Our latest contract with this leading international contractor is a testament to Powerwell’s commitment to excellence and our strategic focus on high-value sectors,” commented Powerwell’s executive director Catherine Wong.
“The data centre market in Malaysia is set for significant growth and we are proud to be at the forefront of this transformation.”
Added Wong: “This project underscores our group’s ability to deliver complex, high-quality electrical solutions and strengthens our position as a leader in the industry.”
Currently, Powerwell stands out in the industry as one of the few players specialising in switchboard and electrical engineering (E&E) solutions in Malaysia.
This provides Powerwell with significant credibility and financial flexibility which are crucial for bidding and securing large-scale projects. The group’s strategic partnerships and extensive industry experience of over 30 years further solidify its market position.
The data centre market in Malaysia is experiencing rapid growth, driven by escalating demands for cloud services and digital transformation across Asia.
Malaysia’s strategic location, robust telecommunications infrastructure and government support make it an increasingly attractive destination for data centre investments.
Recent data centre investments include major projects in Johor, Selangor and Kuala Lumpur which reflect the strategic shift towards enhancing digital infrastructure.
The Malaysian government has proactively fostered this growth through various incentives by streamlining regulatory processes to position the country as a key data centre hub in the Asia-Pacific region.
Powerwell’s focus on high-value projects such as data centres, renewable energy and essential infrastructure projects like MRT (mass rapid transit), LRT (light rail transit) and semiconductor factories has positioned the group as a key player in delivering specialised high-quality solutions.
At the close of today’s trading, Powerwell was up 0.5 sen or 1.12% to 45 sen with 2.25 million shares traded, this valuing the company at RM261 mil. – Aug 21, 2024
