1HFY22 results were in line; core net profit surged 39.5% yoy on higher construction and property development margins. Target of doubling RM10.4bn order book remains intact, driven by MRT 3. Reiterate Add rating with a higher RM4.25 TP (10% RNAV discount).

Equity Analysis /
MalaysiaMY : Gamuda - Robust performance in 1HFY22
Sharizan Rosely
Construction and Infrastructure @ CGS-CIMB
26 March 2022

26 March 2022
Published by