Equity Analysis /
Malaysia

MY : Gamuda - Robust performance in 1HFY22

    Sharizan Rosely
    Sharizan Rosely

    Construction and Infrastructure

    CGS-CIMB
    26 March 2022
    Published by

    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).