Gamuda's latest Taiwan mass rapid transit contract lifts its order book above 50 billion ringgit for the first time, RHB IB analyst Adam Bin Mohamed Rahim says in a note. The company secured a 3.3 billion ringgit Kaohsiung MRT joint-venture project with Taiwan-based Shang Ting, with Gamuda's effective share at 2.3 billion ringgit. Its order book now stands at 51.6 billion ringgit. RHB estimates Gamuda needs another 9 billion ringgit to 14 billion ringgit in new jobs this year to maintain its end-2026 order book target of up to 55 billion ringgit, which it views as achievable given ongoing global tenders worth at least 30 billion ringgit. RHB raises Gamuda's target price to 6.19 ringgit from 6.01 ringgit, and keeps a buy rating. Shares are 1.1% higher at 4.55 ringgit. (yingxian.wong@wsj.com)
Gamuda's Order Book Gets Boost From Taiwan MRT Contract Win — Market Talk
Earlier from Gamuda Bhd
- Gamuda And Shang Ting Construction Awarded Kaohsiung MRT Xiaogang-Linyuan Line Project
- Gamuda's Sabah Water Deal Likely to Boost Earnings Visibility — Market Talk
- Gamuda Says UPPSB Receives LoA For Phase 1 Sbaup Construction With Contract Value Of 5.98 BLN RGT
- Malaysia Shows No Signs of Slowing Data Center Demand — Market Talk