NPS

Transfer of coverage

Recommendations maintained

07 Aug 2026

Source: Canva AI

Due to departure of analyst, we are transferring the coverage of all stocks to Muhammad Aidil Ilmi B Amran.
We maintain the recommendations and target price of all stocks.

KJTS (BUY, TP:RM0.86) - Stonepeak project on the horizon
FRCB (BUY, TP: RM5.20) - 1Q26 - Positive margin outlook
LSH (BUY, TP: RM2.80) - Pricing in the margin pressure
PTT (BUY, TP: RM2.00) - Warehouse automation sleeper
PMIBHD (BUY, TP: RM0.30) - Water project wins can reverse soft debut
MFGROUP (BUY, TP: RM0.48) - Headcount-led growth
GENERGY (BUY, TP:RM1.10) - 1Q26 - Seasonal weakness

Uzma is steeply discounted, with an O&G catalyst and satellite concession yet to be priced in.

PTT Synergy is emerging as a smart warehouse leader.

Management pinned the 1Q26 losses on timing of revenue recognition.

LSH is only trading at implied single digit PER.

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