KUALA LUMPUR (Nov 2): ISF Group Bhd (KL:ISF) has secured four contracts worth a combined RM83.23 million for a hyperscale data centre in Port Dickson, Negeri Sembilan, the largest amount it has announced to date.
The piping solutions provider said its wholly-owned subsidiary Yeo Plumber Sdn Bhd accepted three subcontracts and a letter of award from an unnamed Malaysian construction firm, according to a Bursa filing on Monday.
The three subcontracts are worth RM73.33 million and involve cold water systems, rainwater harvesting, water distribution and sanitary services, while the RM9.9 million letter of award covers external sewerage works.
The projects are scheduled for completion between November 2026 and July 2028.
Following the latest wins, the group's unbilled order book has increased to RM225.5 million, providing earnings visibility through the financial year ending Dec 31, 2029 (FY2029).
ISF managing director Jeff Ai Boon Chen described the contracts as a significant milestone for the group, reflecting its growing ability to undertake larger and more complex projects.
Ai said Malaysia's emergence as a regional data centre hub continues to create opportunities for supporting infrastructure works, with data centre projects accounting for a significant portion of the group's business.
ISF it is also exploring opportunities to expand into larger-scale water infrastructure projects in Malaysia, particularly water treatment plants and initiatives to reduce water losses from supply networks.
The latest contracts follow at least RM47 million in jobs ISF won this year, including a RM14.5 million data centre project in June.
ISF, which made its debut on Bursa Malaysia's ACE Market on Jan 28 at an initial public offering price of 33 sen, is regarded by research house CGS International as an underappreciated stock benefitting from the next wave of data centre construction.
Shares of ISF closed unchanged at 83.5 sen Monday, valuing the group at RM835 million.