While the company has bad quarterly accounting which lead the much profit fluctuation, the annual profit trend is clear:- the company has started profit making since 2022.
Handsome profits continue thereafter and will expect such trend in years to come, especially with new won mega projects, including those from MP Ampang Jaya.
Under the NIISE won scenario, the total profit could yield at least Rm100m. How would this compare to the recent annual profit of only <Rm10m?
The case is clear, existing growth without NIISE: Rm3.5 (50x PE multiple of FY24 profit), with NIISE: Rm6.