not vested
5398 GAMUDA (BUY)
Bags first Port Dickson DC job
Gamuda announced last Friday that it has secured a RM1.7bn contract from a US-headquartered MNC to construct a DC (core and shell plus MEP) in Port Dickson.
Orderbook now climbs to RM45.5bn.
Gamuda is guiding a PBT margin of 8% for the package on a cost-plus mechanism.
Although Gamuda had a slow start in stacking up wins so far in CY26, we believe the group is still on track to achieve its target RM50bn orderbook by end-CY26.
We revamped our financial model and reintroduce FY26/27/28F forecasts at RM1,039m/RM1,364m/RM1,682m.
Maintain BUY rating but with a lower SOP-TP of RM5.31 (from RM5.60).
Source: HLIB
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Gamuda
Re: Gamuda
by winston » Mon Apr 20, 2026 8:55 am
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
- Posts: 114530
- Joined: Wed May 07, 2008 9:28 am
Re: Gamuda
by winston » Thu Apr 30, 2026 9:07 am
not vested
5398 GAMUDA (BUY)
Converts Sabah Water scheme
UPPSB (45% JV) secured the RM6bn SBAUP Phase 1 construction contract.
Of which, RM5bn EPCC works will be awarded to Gamuda’s 75%-owned JV (effective orderbook increment of RM3.8bn).
The construction of the water treatment plant (350MLD) will begin in May-26 with a target completion by end-2029.
Its domestic orderbook rose to RM22.5bn , accounting for 46% of its total orderbook of RM49.3bn, which will be instrumental in driving margin recovery into FY27-28f.
This job win reinforces our confidence in Gamuda achieving RM50bn orderbook by end-CY26.
Maintain our forecasts and BUY rating with an unchanged SOP-TP of RM5.31.
Source: HLIB
5398 GAMUDA (BUY)
Converts Sabah Water scheme
UPPSB (45% JV) secured the RM6bn SBAUP Phase 1 construction contract.
Of which, RM5bn EPCC works will be awarded to Gamuda’s 75%-owned JV (effective orderbook increment of RM3.8bn).
The construction of the water treatment plant (350MLD) will begin in May-26 with a target completion by end-2029.
Its domestic orderbook rose to RM22.5bn , accounting for 46% of its total orderbook of RM49.3bn, which will be instrumental in driving margin recovery into FY27-28f.
This job win reinforces our confidence in Gamuda achieving RM50bn orderbook by end-CY26.
Maintain our forecasts and BUY rating with an unchanged SOP-TP of RM5.31.
Source: HLIB
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
-
winston - Billionaire Boss
- Posts: 114530
- Joined: Wed May 07, 2008 9:28 am
Re: Gamuda
by winston » Thu Apr 30, 2026 12:00 pm
not vested
Secures MYR3.8b Ulu Padas Water Supply Scheme job
Maintain BUY call and MYR5.30 SOTP-TP
At long last, GAM has secured the MYR3.8b Ulu Padas Water Supply Scheme job.
Orderbook has risen to MYR49.3b and YTD new job wins have hit MYR18.9b.
Assuming 8%-10 pre-tax profit margin, this job will accrete MYR228m-MYR285m to core net profit over its duration of 3.5 years.
We maintain our earnings estimates which are based on new job wins of MYR25.0b p.a. and FY26E/FY27E/FY28E property sales of MYR4.5b/MYR13.2b/MYR8.5b and MYR5.30 SOTP-TP. Maintain BUY.
Source: Maybank
https://mkefactsettd.maybank-ke.com/PDFS/529396.pdf
Secures MYR3.8b Ulu Padas Water Supply Scheme job
Maintain BUY call and MYR5.30 SOTP-TP
At long last, GAM has secured the MYR3.8b Ulu Padas Water Supply Scheme job.
Orderbook has risen to MYR49.3b and YTD new job wins have hit MYR18.9b.
Assuming 8%-10 pre-tax profit margin, this job will accrete MYR228m-MYR285m to core net profit over its duration of 3.5 years.
We maintain our earnings estimates which are based on new job wins of MYR25.0b p.a. and FY26E/FY27E/FY28E property sales of MYR4.5b/MYR13.2b/MYR8.5b and MYR5.30 SOTP-TP. Maintain BUY.
Source: Maybank
https://mkefactsettd.maybank-ke.com/PDFS/529396.pdf
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
-
winston - Billionaire Boss
- Posts: 114530
- Joined: Wed May 07, 2008 9:28 am
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