Gamuda-Naim Holdings JV bags RM1.1b Northern Coastal Highway job in Sarawak

25 Aug 2025 | The Edge Malaysia

Kuala Lumpur (Aug 25): A joint venture between Gamuda Bhd (KL:GAMUDA ) and Sarawak property developer Naim Holdings Bhd (KL:NAIM ) has clinched a RM1.13 billion contract to develop the Limbang section of the Northern Coastal Highway in Sarawak.

In a filing with Bursa Malaysia on Friday, Gamuda said the project was awarded to its 30%-owned associate company, Naim Gamuda (NAGA) JV Sdn Bhd, by the Regional Corridor Development Authority (Recoda), a Sarawak state government agency. Naim Holdings holds the remaining 70% in Naim Gamuda.

The project entails the construction of a four-lane dual carriageway measuring 14.7km in Limbang, including bridges, a flyover, earthworks and other associated works. It will be executed over a period of four years.

Gamuda said the development will enhance connectivity and serve as a catalyst for socio-economic growth in northern Sarawak. It also aims to strengthen regional trade and investment ties between Sarawak, Sabah and Brunei Darussalam.

The Limbang package forms part of the larger Northern Coastal Highway project, which spans 87.96km and is designed to connect major towns like Miri, Limbang and Lawas via an alternative domestic route, bypassing Brunei and eliminating the need for four immigration checks on the current Miri-Temburong-Limbang route.

The full Northern Coastal Highway project includes:

87.96km of new highway
10.16km of access roads
13 bridges, including two iconic structures over Sungai Limbang and Kuala Lawas
44 bus stops, eight pedestrian bridges, and four rest and service areas

According to Sarawak Deputy Premier Datuk Amar Awang Tengah Ali Hasan, Phase 1 of the highway — covering three sections in Limbang (44.46km) and two in Lawas (43.5km) — is expected to be completed by 2030. The RM6 billion project will be fully funded by the Sarawak government.

The Northern Coastal Highway is also expected to complement the Pan Borneo Highway, offering a critical link across Sarawak’s central and southern regions, and providing seamless access to Sabah and Brunei through the Merapok border.

Gamuda’s share price closed 0.88% or five sen lower at RM5.65 a share on Monday, giving it a market capitalisation of RM32.75 billion. Naim Holdings closed 1.69% or 1.5 sen lower at 87 sen a share, giving it a market capitalisation of RM444.49 million.