Greenergy
Greenfield, Green-Steam
Transitioning from a renewable energy EPCC to asset ownership should justify a re-rating towards the ~20x PER's enjoyed by peers.
Latest
LSH Capital
4QFY25 - Meeting Expectations
LSH continues to build a track record of sustained high-margin construction earnings.
Malaysia
Solid Headline Growth
GDP is well on-track to hit the 4.5% target, following the robust 3Q print. However, the momentum in underlying growth is a little soft, especially for domestic consumption.
DESTINI
Cessation of Coverage
We cease coverage on Destini and our recommendation on the stock should no longer be relied upon. Our last target price was RM0.65.
LSH Capital
Rapid Scale-Up on High Margins
In a sector with arguably elevated valuations, we foresee LSH distinguishing itself with a combination of robust orderbook growth and sector-leading margins.
DESTINI
Missed deadline resurfaces old concerns
Regulators will suspend Destini on 10 Nov for missing the 31 Oct deadline for issuing the FY25 audited accounts and annual report.
FRONTKEN
3Q25: M&A's in focus
Management provided more clarity on potential M&A opportunities, with 3 deals being explored.
Pan Merchant
Water project wins can reverse soft debut
PMI has not put its best foot forward post-listing, touching a low of -33% vs IPO price and posting sluggish 1H25 earnings.
Budget 2026
Constrained Populism
Considering fiscal limitations, we are overall positive on Budget 2026, even if market impact might be low.
KJTS
Placement incoming
KJTS will be offering up to 14.82% new shares to comply with Bumiputera Equity Conditions; up to 102m new shares.
KJTS
Second half tailwinds
2H25 enjoys multiple earnings drivers - higher electricity tariffs, improving margins, MUSB acquisition, and overseas projects.
KJTS
2Q25 - Dividend upgrade
KJTS’ earnings continued to accelerate in the second quarter, bringing 2H25 Adj NP to RM8.8m (+23% YoY).