Gadang Holdings

Name

Gadang Holdings

Legal name

Gadang Holdings Berhad

Website

https://gadang.com.my

Company type

Public

Founded year

1993

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Civil Engineering and Infrastructure Construction

NAICS

Engineering Services (54133), Electric Power Generation (22111), Solar Electric Power Generation (221114), Hydroelectric Power Generation (221111)

SIC

Services-Engineering Services (8711), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Hydro BOP Civil & Water Conveyance (Dams, Spillways, Penstocks, Canals) (EUAMAFAG)

akta.pro secondary industries

Asset Management & Owner’s Engineering (Lifecycle Strategy, Budgeting, Technical Due Diligence) (EUAMAGAJ), Incentives, Grants & Program Administration (Auctions, Tenders, IRA/ITC/PTC Advisory) (EUAMAAAJ)

Keywords

• Civil engineering construction
• Property development services
• Water supply concessions
• Mechanical electrical engineering
• Infrastructure construction services

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Engineering & Construction Contracts: One-time project-based revenue from civil engineering, building construction, and infrastructure projects including highways, bridges, MRT works, and buildings. Projects are secured through competitive tenders and PPP arrangements.
2. Utilities Concessions: Recurring revenue from water supply and power generation concessions. Includes mini-hydro power plants and water treatment concessions in Indonesia, and solar power projects in Malaysia under long-term agreements typically spanning 15-25 years.
3. Property Development: Revenue from property development projects including residential and commercial developments under the Gadang Land subsidiary.
4. Mechanical & Electrical Services: M&E engineering services including electrical systems, plumbing works, and specialized installations for data centers and infrastructure projects.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Gadang Holdings Berhad is a Malaysian investment holding company that, through its subsidiaries, delivers civil engineering and building construction services (highways, bridges, MRT works, buildings), property development (residential and commercial), utilities concessions (water supply treatment and distribution in Indonesia, mini-hydro and solar power generation), and mechanical & electrical engineering services for infrastructure, data centers and building projects. Revenue is generated primarily through one-time project-based construction contracts and recurring long-term concession/PPAs.

Product overview

Gadang Holdings Berhad is a Malaysian investment holding company with four core business segments operated through wholly-owned and partially-owned subsidiaries: (1) Engineering & Construction through Gadang Engineering (M) Sdn Bhd (GESB), providing civil engineering, building construction, and infrastructure works; (2) Property Development through Gadang Land Sdn Bhd and its subsidiaries; (3) Utilities through Regional Utilities Sdn Bhd, encompassing water concessions (PT Taman Tirta Sidoarjo, PT Hanarida Tirta Birawa, PT Dewata Bangun Tirta) and power generation (PT Ikhwan Mega Power for hydro, and solar projects through TASB and NSSB); and (4) Mechanical & Electrical through Datapuri Sdn Bhd, providing MEP engineering services. The group has expanded into renewable energy with solar and hydro power projects to create recurring income streams.

Differentiator

Problem solved

Functional benefit

Products and services

• Engineering & Construction Services (Gadang Engineering / GESB)
• Property Development (Gadang Land)
• Mechanical & Electrical Engineering Services (Datapuri)
• Water Supply Concessions (PT Taman Tirta Sidoarjo, PT Hanarida Tirta Birawa, PT Dewata Bangun Tirta)
• Mini Hydro Power Generation (PT Ikhwan Mega Power)
• Large Scale Solar PV Plants (Tenaga Aspirasi / TASB, Nusantara Suriamas / NSSB)

Quantifiable outcome

• Successfully completed major infrastructure projects including KVMRT packages, ECRL sections, TRX development packages, and various highway projects
• +3 more outcomes

Named customers9 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Hotrend Corporation Sdn BhdcoreStrategic or Co-development Partner · 1 January 2025RUSB – Hotrend Joint Consortium partnership for the development of a 15.0 MWa.c. Large Scale Solar PV Plant in Tawau, Sabah. Hotrend and Regional Utilities Sdn Bhd (a Gadang subsidiary) formed this joint venture to undertake the solar project selected by the Energy Commission of Sabah.
• Yi Sheng Foundation Pte LtdminorStrategic or Co-development Partner · 1 January 2019Subsidiary established in Singapore in 2019 to undertake construction projects in Singapore. Part of Gadang's regional expansion strategy.
• Gadang CRFG Consortium Sdn BhdminorStrategic or Co-development Partner51% owned joint venture company within the Gadang Group structure for construction projects.
• Zeta Datapuri JV Sdn BhdminorStrategic or Co-development Partner45% owned joint venture under Datapuri Sdn Bhd for mechanical and electrical projects.
• Perusahaan Daerah Air Minum (PDAM) Delta Tirta SidoarjocoreStrategic or Co-development PartnerState-owned water utility company in Indonesia that partners with Gadang's water concession subsidiaries (PT Taman Tirta Sidoarjo and PT Hanarida Tirta Birawa) for water supply distribution in Kabupaten Sidoarjo.
• Sabah Electricity Sdn Bhd (SESB)coreStrategic or Co-development PartnerState electricity utility company in Sabah. Gadang subsidiaries have signed power purchase agreements (PPAs) with SESB for solar power projects, including 5.9MW LSSPV in Tawau.
• Perusahaan Listrik Negara (PT PLN)coreStrategic or Co-development PartnerIndonesian state-owned electricity company. PT Ikhwan Mega Power (Gadang subsidiary) synchronizes its mini-hydro power generation with PT PLN's distribution grid under a 15-year concession.

Scale indicators6 records

Recent moves15 records

Expansion highlights5 records

Direct peers

• Sunway Construction Group Berhad: Sunway Construction is a Malaysian pure-play contractor focused on building, civil/infrastructure and M&E works, with strong exposure to data centers, healthcare and transit projects. Closely matches Gadang's Engineering & Construction plus Datapuri M&E activity set and similar client base.
• Gamuda Berhad: Gamuda is Malaysia's largest infrastructure and construction group, with direct overlap on KVMRT (joint venture partner with MMC on V206), water treatment plants and PDS concession assets. Both compete for the same federal and state tenders, pursue long-dated water/utilities concessions, and are public-listed Bursa Malaysia Main Market peers.
• Salcon Berhad: Salcon is a Malaysian water and wastewater treatment specialist that built, owns and operates municipal water concessions in Indonesia and other ASEAN markets. Comparable peer for Gadang's water concession subsidiaries (PT Taman Tirta Sidoarjo, HTB, DBT).
• IJM Corporation Berhad: IJM is a diversified Malaysian conglomerate operating construction, property, industry and plantations segments. Direct overlap with Gadang's four-pillar strategy (construction + property + utilities concessions + industry), and competes for major infrastructure tenders and PPP projects in Malaysia.
• WCT Holdings Berhad: WCT is a comparable mid-cap Malaysian civil engineering and building construction group with property development and concession exposure. Direct competitor for federal highway, building and infrastructure packages where Gadang bids as a Grade 7 contractor.
• Malaysian Resources Corporation Berhad (MRCB): MRCB is a Malaysian construction and property development group, also co-owner of KVMRT and developer of large mixed-use urban regeneration (e.g. KL Sentral). Operates similar integrated construction + property + transit model and competes with Gadang on TRX and infrastructure tenders.

Regional players

• PT PP (Persero) Tbk: PT PP is another major Indonesian state-owned contractor active in infrastructure, property and EPC energy projects. Comparable as a regional player on infrastructure and IPP/concession work where Gadang (via Ikhwan Mega Power, water subsidiaries) operates.
• HSS Engineers Berhad: HSS Engineers is a Malaysian engineering services firm specialized in transport, water and environmental infrastructure design and supervision. Compared to Gadang because both are Malaysian engineering-led players on rail/transit and water infrastructure projects.
• PT Adhi Karya (Persero) Tbk: Adhi Karya is an Indonesian state-owned construction and engineering company active in MRT/LRT, building and infrastructure projects with water concessions. Comparable to Gadang's Indonesian water and mini-hydro concessions and to its MRT involvement in Malaysia.

Broad incumbents

• UEM Group Berhad: UEM Group is a large Malaysian infrastructure group encompassing expressways, construction and engineering services. Comparable as a Bursa Malaysia peer in federal highway and infrastructure tenders, though at meaningfully larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/gadang-holdings-berhad

Compliance18 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries11 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 Gadang Holdings