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With Malaysia’s construction sector expected to enter a “Year of Execution,” Aneka remains a company worth watching, given its key role in supporting the country’s ongoing development projects
RM10 billion data centre packages in Selangor are being awarded to mainstays like Gamuda, IJM, and Sunway. But the secret? These tier-1 mains MUST subcontract scope to specialists for piling, foundation, earthworks. The foundation subcon flows down to specialists like ANEKA. Subcontract waterfall = ANEKA opportunity. This pipeline is just starting.
RMK-13 (13th Malaysia Plan) spans 2026 to 2030, with continued infrastructure focus and likely extending themes into RMK-14 (2031 to 2035). Every major infrastructure project such as MRT3, Penang LRT, ECRL stations, hospitals, schools, DCs need foundation work. That's literally 8+ years of structural demand for foundation specialists.
Capital rotating into construction names with clear earnings visibility. ANEKA fits the profile of small cap, foundation niche, clean balance sheet, recent contract wins.
DC piling pipeline strong, RMK-13 infrastructure spending kicking in, insiders accumulating. The market keeps treating ANEKA as 'just another small con stock' but the niche underground works specialty is genuinely valuable. Next quarterly should give better data on margin trend with the newer DC contracts kicking in.
Malaysia’s piling and foundation sector is seeing strong activity right now. This is mainly driven by the rapid expansion of hyperscale data centres in places like Johor and Cyberjaya, plus ongoing high-rise developments across the Klang Valley
Before any data centre even gets vertical structure, somebody must do bored piles, basement excavation, retaining walls. That's literally ANEKA's bread and butter. With hyperscale tender pipeline expanding in Selangor, Johor, and Negeri Sembilan, foundation specialists have multi-year tailwind.
KL-Singapore High Speed Rail feasibility study was supposed to be announced. If HSR actually moves forward, the substructure works alone would be massive
