KUALA LUMPUR (April 7): AWC Bhd (KL:AWC) has won a RM22.18 million contract to undertake plumbing, silo tank and internal sanitary works in a date centre project.

In a exchange filing on Tuesday, AWC said the contract was awarded by a Malaysia-incorporated joint-venture between two private companies involved in civil engineering, construction and project management, which includes large-scale infrastructure and specialised facilities.

The joint-venture could not be identified due to confidentiality and non-disclosure obligations tied to the project, said AWC.

Work began on Jan 9 and is scheduled for completion by Dec 27, it added.

AWC president and group chief executive officer Datuk Ahmad Kabeer Mohamed Nagoor said this is the group's second data centre contract win for the financial year ending June 30, 2026.

“This win further reinforces our strategy to expand our presence in high- tech and mission-critical infrastructure projects,” said Ahmad Kabeer in a statement, noting that the group's cumulative contracts secured for FY2026 stands at an estimated RM472 million.

In December 2025, AWC secured a RM42.3 million subcontract from Gamuda Bhd's (KL:GAMUDA) engineering arm Gamuda Engineering for mechanical works at a hyperscale data centre development in Puncak Alam, Selangor.

Ahmad Nagoor added that the group is closely monitoring any effects from the ongoing conflict in the Middle East as well as new tariff measures.

According to AskEdge, AWC is currently trading at a price-earnings ratio (PER) of 8.6 times, which is the lowest among peers where the ratio is applicable (not loss-making or insufficient data).

The PER is at the higher end compared to its historical valuation in recent years.

The group's price-to-net asset value ratio of 0.8 multiple is below peers' average, and below the recent years’ average.

At Tuesday’s closing, AWC’s shares were down by 1.5 sen or 2.9% to 50.5 sen ahead of the announcement, giving the group a market capitalisation of RM173.7 million.