KKB’s Rosy Outlook As Proxy For East Malaysia Mega Projects

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KKB’s Rosy Outlook As Proxy For East Malaysia Mega Projects - Business Today

Quick Summary:

RHB Investment Bank Bhd (RHB Research) maintains a BUY call on KKB Engineering Bhd with a revised target price of RM1.83, indicating a potential upside of 25% from the current price of RM1.46.

Further opportunities are identified in Sarawak’s ambitious plans to invest RM6 billion in a rural water supply initiative by 2030, which includes replacing approximately 2,740 kilometres of pipelines.

The tenderbook was valued at around RM254 million, with contract awards expected within the first half of 2025.