ZECON

What ZECON does

Zecon Berhad is a Sarawak-based, publicly listed (Bursa Malaysia, 1997) engineering, construction, and infrastructure group that has completed more than 40 major projects valued at approximately RM 4.5 billion since listing. Its core competencies span civil and infrastructure construction (highways, bridges, hospitals, water treatment), public-private partnership concessions, and, more recently, large-scale renewable energy and property development. Landmark projects include the 75km Pan Borneo Highway Phase 1 Work Package 3 (RM 1.35 billion, completed May 2023), the 23-building UNIMAS campus (RM 750 million), the 243-bed Hospital Pakar Kanak-Kanak (HPKK, RM 606 million), and the 12.5km TBM Triang water transfer tunnel in Negeri Sembilan. The company employs 101-250 staff across its Kuching headquarters and Kuala Lumpur regional office.

Zecon operates a diversified multi-revenue-stream business model: (i) project-based construction contracts awarded through competitive government tendering (RM 1 million to RM 1.35 billion range); (ii) long-duration concession-based managed services, including the 25.5-year Assets & Facility Management Services for HPKK (operational since 2021) and the 33-year toll concession for the Tun Salahuddin Bridge; (iii) subscription/recurring utility revenue via a 30-year Power Purchase Agreement with Syarikat SESCO Berhad for 100MWac of solar generation (commencing December 2027); (iv) property development with a gross development value of RM 3.2 billion over 15-20 years; and (v) a 54-room hotel adjacent to HPKK. Its primary customers are federal and state government ministries, statutory bodies, and state-owned utilities in Malaysia, with the Sarawak state government and SESCO as anchor counterparties.

The company's strategic center of gravity is the 3,000-acre Kota Petra Green Technology Park (KPGTP) in Kuching, approved as a Sarawak Economic Zone with a 30-year solar generation license permitting up to 300MWac of production. KPGTP is positioned as a managed industrial park for AI data centers, biotech, spacetech, greentech, smart manufacturing, and mintech industries, supported by tripartite MoUs with SDEC and CENTEXS. The group's renewable energy arm operates through Zecon Renewables Sdn Bhd and Zecon Renewables (Sarawak) Sdn Bhd, while Zecon Medicare Sdn Bhd (51% Zecon, 49% State Financial Secretary Sarawak) operates the HPKK hospital concession, and Zecon Properties Sdn Bhd handles property development. Recent leadership additions, including former Sarawak State Secretary Tan Sri Mohamad Morshidi as Independent Non-Executive Chairman (April 2026), reinforce the company's positioning as a Sarawak government-aligned infrastructure and energy concession platform.

Name

ZECON

Legal name

Zecon Berhad

Website

https://zecon.com.my

Company type

Public

Founded year

1985

Operating status

Operating

Headcount range

101–250 employees

Short description

Zecon Berhad is a Sarawak-based, Bursa Malaysia-listed engineering, construction, and infrastructure group delivering highways, hospitals, water systems, property development, and large-scale solar energy, with primary customers being Malaysian federal and Sarawak state government agencies.

Ownership category

akta.pro rank

Headquarters

HQ city

Kuching

HQ country

Malaysia

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D

Revenue model

1. Construction Services: Traditional construction contracts for infrastructure projects including highways, bridges, buildings, and water infrastructure. Revenue recognized on project completion basis with contract sums ranging from RM1 million to RM1.35 billion.
2. Healthcare Concession - Assets & Facility Management Services (AFMS): 25.5-year Build, Lease, Maintain and Transfer concession for Hospital Pakar Kanak-Kanak (HPKK) started January 2021. Provides recurring facility management services with low deduction rates (0.21% average) and high customer satisfaction (99.08%).
3. Solar Power Generation: 100MWac solar power generation under 30-year PPA with SESCO Berhad commencing December 2027. Estimated 60 million kWh renewable electricity output over 22 years for rooftop solar at HPKK.
4. Property Development: Residential and commercial property development with gross development value of RM3.2 billion over 15-20 years from ongoing projects including Vista Tunku, City Bridge Commercial Centre, and Petra Indah.
5. Toll Operations: Toll concession revenue from Tun Salahuddin Bridge (339-metre dual carriageway) with 33-year concession and optional 19-year extension. Toll collection since October 2003.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

ZECON is a Sarawak-based engineering and construction group that delivers large-scale civil infrastructure (highways, bridges, hospitals, water tunnels) and operates long-term concessions including a pediatric hospital BLMT contract, a toll bridge, and a 30-year solar Power Purchase Agreement. The company also develops residential and commercial property and is developing the 3,000-acre Kota Petra Green Technology Park anchored by a 300 MWac agrivoltaic solar farm with battery storage.

Product overview

ZECON is a Malaysian public-listed engineering and construction company established in 1985 with core businesses spanning construction, water infrastructure, property development, healthcare/hospital concession, renewable energy, and toll concessions. The company operates through distinct divisions: Construction & Engineering Services delivering major infrastructure projects; Zecon Medicare providing Assets & Facilities Management Services for the Hospital Pakar Kanak-Kanak (HPKK); Zecon Renewables developing solar energy projects including the 100MWac facility at Kota Petra Green Technology Park and 2MW rooftop solar at HPKK; the flagship Kota Petra Green Technology Park (KPGTP) - a 3,000-acre green technology and industrial park; Zecon Toll Concession operating the Tun Salahuddin Bridge; and Zecon Hotel providing hospitality services. The company has successfully completed over 40 major projects valued at approximately RM 4.5 billion since 1997.

Differentiator

Problem solved

Functional benefit

Brands

• Zecon Hotel: 54-room hotel located at Hospital Pakar Kanak-Kanak (HPKK) in Bandar Tun Razak, Cheras, operational since June 2022.
• Kota Petra Green Technology Park (KPGTP)
• ServeCo

Products and services

• Construction & Engineering Services

Quantifiable outcome

• RM4.5 billion in completed project value across 40+ major projects since 1997
• +4 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Syarikat SESCO BerhadcoreStrategic or Co-development Partner · 22 October 202530-year Power Purchase Agreement signed 22 October 2025 for development of 100MWac large-scale solar facility at Kota Petra Green Technology Park. Zecon Renewables (Sarawak) will sell and deliver solar power to SESCO for 30 years from commercial operation date December 2027.
• Sarawak Digital Economy Corporation Berhad (SDEC)coreStrategic or Co-development Partner · 16 October 2024Tripartite MoU signed at IDECS 2024 for development of Kota Petra Green Technology Park. SDEC is responsible for accelerating digital technology in the private sector and providing telecommunication services to the green technology park. The signing was witnessed by the Premier of Sarawak.
• Centre For Technology Excellence Sarawak (CENTEXS)coreStrategic or Co-development Partner · 16 October 2024Tripartite MoU signed at IDECS 2024 for development of Kota Petra Green Technology Park. CENTEXS provides capacity building through industry-based competency training, skill development, and technology testbeds toward commercialization at KPGTP.
• Taisei CorporationminorStrategic or Co-development PartnerTaisei-Zecon Joint Venture (TZJV) formed April 2001 for UNIMAS campus development. Taisei Corporation (Japan) partnered with Zecon Engineering Berhad for the RM750 million university project, with Zecon acting as sub-general contractor.
• Kimlun Corporation BerhadminorStrategic or Co-development PartnerZecon Kimlun Consortium Sdn Bhd joint venture for Pan Borneo Highway Phase 1 Work Package 3. Consortium awarded RM1.35 billion contract for 75km highway development from Serian Roundabout to Pantu Junction.

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Gamuda Berhad: Large Malaysian engineering and infrastructure group with highways, water, and property development. Competes on heavy civil and government concession projects.
• Sunway Construction Group Berhad: Major Malaysian building and infrastructure contractor with public-sector experience. A more established incumbent competing for nonresidential and infrastructure tenders.
• WCT Holdings Berhad: Established Malaysian construction and property group with similar civil engineering, building, and toll concession heritage. Comparable mix of one-off and recurring infrastructure revenue.
• IJM Corporation Berhad: One of Malaysia's largest diversified construction and property groups, with industry, infrastructure, and plantation arms. Competes with Zecon on large public tenders and concessions.

Direct peers

• Muhibbah Engineering (M) Bhd: Malaysian engineering and construction group with infrastructure, oil-and-gas, and crane services. Comparable in scale and has relevant experience on port, airport, and bridge contracts in East Malaysia.
• Kimlun Corporation Berhad: JV partner on the RM1.35B Pan Borneo Highway package and a similar-sized Malaysian infrastructure and building contractor with comparable civil engineering capabilities.
• Naim Holdings Berhad: Listed Sarawak-based construction and property developer with comparable scale, regional concentration, and government-tendered infrastructure focus. Closest like-for-like peer in the same home market.
• Hock Seng Lee Berhad: Sarawak-headquartered construction and property group serving similar government and oil-and-gas clients in the same regional market. Overlapping service lines in civil and building construction.

Emerging players

• Solarvest Holdings Berhad: Listed Malaysian solar EPCC specialist with utility-scale and C&I projects across Malaysia. Most directly comparable on the agrivoltaic EPCC business.
• Cypark Resources Berhad: Malaysian renewable energy and waste-to-energy developer that builds, owns, and operates solar and biogas assets under PPAs. Comparable on the solar generation and EPCC side of Zecon Renewables.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Customer concentration

• LinkedInlinkedin.com/company/zecon-berhad

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ZECON