Investment holding company, Glomac Berhad Group, is considering a venture into data center business in the near future to diversify its investment portfolio.
The talks between one local and one international organisation have been stalled due to the COVID-19 pandemic and Movement Control Order in Malaysia.
“The plan is to have the data centers in Cyberjaya, and we are looking at their specifications whether this plan can work financially,” said Managing Director and CEO of Glomac, Datuk Seri Fateh Iskandar Mohamed Mansor, during a virtual press conference after the company’s 36th Annual General Meeting.
The Malaysian Reserve reported that Glomac planned to include data centers as investment properties to diversify its income streams.
“This could be another avenue of business we are seriously looking into, but it is still in its early stages,” added Mr. Mansor.
Glomac is expected to sustain its sales and financial performance moving forward following the resumption of construction activities post-MCO, backed by unbilled sales of US$158 million (RM660 million) at the end of July 2020.
According to ResearchAndMarkets, the Malaysian data center market is forecast to cross US$800 Million, growing at an annual rate of over 8% between 2020 and 2025, driven by investments by Microsoft, Vertiv, AIMS Data Centre, G3 Global and PCCW.