Malaysia Shows No Signs of Slowing Data Center Demand — Market Talk

Malaysia shows no signs of slowing data center demand, despite the ongoing global macroeconomic uncertainties, TA Securities analyst Ng Hong Tong says in a note. Infrastructure company Gamuda and builder Sunway Construction both recently secured contracts to build hyperscale data centers in Malaysia. The companies' contract wins reflects Malaysia's strong structural demand for digital infrastructure, driven by the continuous growth in cloud computing, artificial intelligence and data consumption. TA Securities maintains an overweight rating on Malaysia's construction sector and keeps its buy and hold ratings for Gamuda and Sunway Construction, respectively.(amanda.lee@wsj.com)