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The pipeline across national electricity utility Tenaga Nasional Bhd (KL:TENAGA), data centres and solar projects is larger than expected, with record-high tenders worth RM5 billion submitted by MN Holdings, according to Hong Leong Investment Bank.
The research house has maintained a “buy” call on the stock with a target price of RM4.57 pegged to an unchanged 24 times price-earnings multiple on fully diluted 2027 earnings per share.
The wins lifted its outstanding order book to RM1.16 billion from six contracts secured in FY2026, bringing its total year-to-date order wins to RM477.2 million. https://theedgemalaysia.com/node/817169
While maintaining an “overweight” call on the sector, RHB Investment Bank said its top pick among the list was YTL Power for its ability to benefit from rising DC capacity
