Trending News: MGA Urges Energy Sector To Embrace The Power Of Diverse Perspectives For Future WorkforceBernama’s Chairman Appointed To Two CMI PositionsLabuan To Embrace Vertical Farming To Boost Agro Sector, Food Security – KPKMSarawak Becomes Largest Shareholder In Affin Bank With 31.25 Pct StakeGamuda Up In Early Trade Following Strong FY2024 ResultsBank Islam Unveils Mastercard Inspire Credit Card-iPetronas, Mitsubishi Sign New Agreements For LNG DeliveryACE Market-bound OB Holdings Aims To Raise RM28.8 Mln From IPOMahkota Voters Go To The Polls TomorrowTang Jie-Ee Wei Still Well Positioned To Make BWF World Tour Finals – Coach NovaLTdL 2024: Muhammad Elmi’s in Sync With Young Pacer Abdul AzimDescente Launches First Southeast Asian Store At The Exchange TRXBen Proud To Be AirAsia’s ‘Dare To Dream’ Campaign AmbassadorLTdL 2024: MPC Draw Up Strategy To Tackle Stage OnePara SUKMA: Abid Powers To Gold Despite Training In Parking LotLTdL 2024: Langkawi’s Dataran Lang Comes Alive With 22-team Introductory CeremonyThree Super League Clubs Facing Salary Arrears Fined RM15,000Coastal localities unleash all-out campaigns to eradicate IUU fishingMalaysia, China To Engage In Creative Content Exchange And ProductionYTL Counters Weigh On Bursa Malaysia’s Morning SessionJohor Police Warn Of Strict Action Against River PollutersUstaz Husam Charged With Accepting Unrecognised TitleSon Was Chased, Tossed By Elephant During Encounter – Father Of VictimTFC Unhappy With Just One Point Against DATH FCIndonesian Woman Seriously Injured In Stabbing AttackNusantara Manuscript Seminar Highlights Need For Preservation, CollaborationCrackdown On GISBH Expands To Sabah, SarawakFive Individuals Charged Over Odour Pollution In Orang Asli VillageExplore Renewable Energy Sector To Meet Regional Demand — FadillahREVO ZERO And Grupo Édora Join Forces To Accelerate The Green Hydrogen RevolutionSarawak Counting Down To Wrest Para SUKMA Crown From SabahCashless Transactions Boost Felda Community’s Economic GrowthKPKM Allocates RM300,000 For ‘Unjam’ Anchoring Programme Outside Melaka Marine ParkMACC Focuses On Combating Corruption In Construction Sector – Azam BakiKedah Floods: Three More Relief Centres Closed; Number Of Victims Down To 609Tainan Mascot “Hang-á Niau” Takes Centre Stage In Shinjuku, TokyoDekwan’s Shoes The Secret To Mahfudz’s Running Feat For PerlisMonsoon: Govt To Introduce National Disaster Risk Management Policy – Ahmad ZahidShortage Of Flights To And From Labuan Mainly Due To ‘Load Factor’ – HasbiKSN To Chair Corruption Perception Index Special Task ForceMoT To Establish Cruise Council To Boost TourismXsolla to Present Global Expansion Solutions at Tokyo Game Show 2024From Hobby To Hero: Wheelchair-bound Archer Nurul Farha Inspires With Four Gold MedalsTainan Mascot ‘Hang-á Niau’ Debuts in Shinjuku, TokyoGISBH: Premises In Sabah, Sarawak Closed; Police Proposes Search And Seize ActionSmartStream Unveils Next-generation Data Intelligence Capabilities To Its Air PlatformGold Futures End higher Amid Stronger USDNRES Directs METMalaysia To Review SOP On Preparation And Dissemination Of Weather Information, WarningMalaysia Techlympics A Platform For Unearthing And Nurturing STI Talent – ChangYoung People Should Not Underestimate Heart Disease – ExpertCPO Futures Extend Winning StreakFBM KLCI Futures Edge Higher In Early TradeRinggit Softer VS US Dollar On Profit-taking After Recent Sharp GainsBursa Malaysia Opens Lower Amid Mixed Regional SentimentSeveral Roads In Penang, Selangor Closed For LTdLFahmi Arrives In China For Three-day Working VisitNew KL-Da Nang Route Bolsters Goals Of Visit Malaysia 2026Premium Salaries For TVET Graduates Set To Attract Youth, Redefine ‘second-class’ PerceptionNew SMISTA Complex Can Accommodate More Students, School Administrators – Mohd Na’imNumber Of Kedah Flood Victims Drops To 1,885JKT, JPJ To Discuss Addressing Abandoned Vehicles – NgaRinggit Retreats To 4.13 At Opening As Investors Take ProfitsKedah Floods: Seven Relief Centres Closed; Number Of Victims Drops To 888Istana Budaya Uses Green Technology In Line With Global Aspiration Towards EnvironmentOne-handed Jericho Strikes Gold In Land Of HornbillsJAIS To Investigate 612 Individuals Linked To GISBH With Police Cooperation – Selangor ExcoPolice Rescue Kidnap Victim, Suspect Shot DeadMalaysia More Selective In Choosing Foreign Investment For Country’s Greater Benefit – PM AnwarJPN Denies Viral Claims Of RM700 Cash AssistanceGovt Firm In Implementing Diesel Subsidy Rationalisation Despite Criticisms – PM AnwarSafwan Turns Hobby Into Winning Four Para SUKMA GoldBacolod property owner cleared in tax evasion rapsMOVETIX By AirAsia MOVE Partners With Ticketmelon To Enhance Asean’s Event Booking ExperiencePBA saddened by Amores’ attempted murder casePM Anwar Wants SMISTA Project In Bukit Jalil To Be Implemented QuicklyAice Philippines awards cash incentives to Paris Olympics medalistsNajib Did Not Request Feasibility Study For SRC Loan, Court ToldPBMM urged to declare September as alcohol harms awareness monthLabourer Pleads Not Guilty To Hurting Wife With IronPH returns to Tour of Langkawi cycling raceEntermind On A Quest To Provide Generation Alpha With Gen AI SpaceLTO warns employees vs. colluding with fixersProfit-taking Pressures Bursa Malaysia Into Afternoon DeclinePH marks World Contraception Day amid rise in teen pregnanciesResults Of 2024 Malaysia Para Games (Sept 26)3 suspects in shooting of village officer nabbed in QCNo More Single-use Plastic Bags At 20 Retail Chains From Oct 1 – NgaLocal index strong on possible BSP rate cute, peso flatFICO Survey: Rising Acceptance of ‘Liar Loans’ Among Malaysian ConsumersBill giving Muslims, IPs equal access in public cemeteries backedNREs Seeks Budget 2025 Boost To Empower DOE – Nik NazmizBlazers seek to keep NCAA leadGovt Mulls Converting 420,000 Hectares Of Abandoned Rubber Estates Into Bamboo Plantations — MinisterCICC warns public vs. SIM suspension scamFederal Court Upholds Labourer’s Death Penalty For Triple Murder Of ChildrenSenate to wrap up budget hearings Oct. 18Medidata Extends Its Commitment to the Patient Experience with the Launch of Patient PaymentsPBBM wants laws that ‘fully bring life to Constitution,’ protect WPSUEM Sunrise Achieves 100 Pct Take-up Rate For 3 Projects With RM499 Mln GDVDPWH launches online excavation permits in 3 regions
Sat. Sep 28th, 2024
Trending News: MGA Urges Energy Sector To Embrace The Power Of Diverse Perspectives For Future WorkforceBernama’s Chairman Appointed To Two CMI PositionsLabuan To Embrace Vertical Farming To Boost Agro Sector, Food Security – KPKMSarawak Becomes Largest Shareholder In Affin Bank With 31.25 Pct StakeGamuda Up In Early Trade Following Strong FY2024 ResultsBank Islam Unveils Mastercard Inspire Credit Card-iPetronas, Mitsubishi Sign New Agreements For LNG DeliveryACE Market-bound OB Holdings Aims To Raise RM28.8 Mln From IPOMahkota Voters Go To The Polls TomorrowTang Jie-Ee Wei Still Well Positioned To Make BWF World Tour Finals – Coach NovaLTdL 2024: Muhammad Elmi’s in Sync With Young Pacer Abdul AzimDescente Launches First Southeast Asian Store At The Exchange TRXBen Proud To Be AirAsia’s ‘Dare To Dream’ Campaign AmbassadorLTdL 2024: MPC Draw Up Strategy To Tackle Stage OnePara SUKMA: Abid Powers To Gold Despite Training In Parking LotLTdL 2024: Langkawi’s Dataran Lang Comes Alive With 22-team Introductory CeremonyThree Super League Clubs Facing Salary Arrears Fined RM15,000Coastal localities unleash all-out campaigns to eradicate IUU fishingMalaysia, China To Engage In Creative Content Exchange And ProductionYTL Counters Weigh On Bursa Malaysia’s Morning SessionJohor Police Warn Of Strict Action Against River PollutersUstaz Husam Charged With Accepting Unrecognised TitleSon Was Chased, Tossed By Elephant During Encounter – Father Of VictimTFC Unhappy With Just One Point Against DATH FCIndonesian Woman Seriously Injured In Stabbing AttackNusantara Manuscript Seminar Highlights Need For Preservation, CollaborationCrackdown On GISBH Expands To Sabah, SarawakFive Individuals Charged Over Odour Pollution In Orang Asli VillageExplore Renewable Energy Sector To Meet Regional Demand — FadillahREVO ZERO And Grupo Édora Join Forces To Accelerate The Green Hydrogen RevolutionSarawak Counting Down To Wrest Para SUKMA Crown From SabahCashless Transactions Boost Felda Community’s Economic GrowthKPKM Allocates RM300,000 For ‘Unjam’ Anchoring Programme Outside Melaka Marine ParkMACC Focuses On Combating Corruption In Construction Sector – Azam BakiKedah Floods: Three More Relief Centres Closed; Number Of Victims Down To 609Tainan Mascot “Hang-á Niau” Takes Centre Stage In Shinjuku, TokyoDekwan’s Shoes The Secret To Mahfudz’s Running Feat For PerlisMonsoon: Govt To Introduce National Disaster Risk Management Policy – Ahmad ZahidShortage Of Flights To And From Labuan Mainly Due To ‘Load Factor’ – HasbiKSN To Chair Corruption Perception Index Special Task ForceMoT To Establish Cruise Council To Boost TourismXsolla to Present Global Expansion Solutions at Tokyo Game Show 2024From Hobby To Hero: Wheelchair-bound Archer Nurul Farha Inspires With Four Gold MedalsTainan Mascot ‘Hang-á Niau’ Debuts in Shinjuku, TokyoGISBH: Premises In Sabah, Sarawak Closed; Police Proposes Search And Seize ActionSmartStream Unveils Next-generation Data Intelligence Capabilities To Its Air PlatformGold Futures End higher Amid Stronger USDNRES Directs METMalaysia To Review SOP On Preparation And Dissemination Of Weather Information, WarningMalaysia Techlympics A Platform For Unearthing And Nurturing STI Talent – ChangYoung People Should Not Underestimate Heart Disease – ExpertCPO Futures Extend Winning StreakFBM KLCI Futures Edge Higher In Early TradeRinggit Softer VS US Dollar On Profit-taking After Recent Sharp GainsBursa Malaysia Opens Lower Amid Mixed Regional SentimentSeveral Roads In Penang, Selangor Closed For LTdLFahmi Arrives In China For Three-day Working VisitNew KL-Da Nang Route Bolsters Goals Of Visit Malaysia 2026Premium Salaries For TVET Graduates Set To Attract Youth, Redefine ‘second-class’ PerceptionNew SMISTA Complex Can Accommodate More Students, School Administrators – Mohd Na’imNumber Of Kedah Flood Victims Drops To 1,885JKT, JPJ To Discuss Addressing Abandoned Vehicles – NgaRinggit Retreats To 4.13 At Opening As Investors Take ProfitsKedah Floods: Seven Relief Centres Closed; Number Of Victims Drops To 888Istana Budaya Uses Green Technology In Line With Global Aspiration Towards EnvironmentOne-handed Jericho Strikes Gold In Land Of HornbillsJAIS To Investigate 612 Individuals Linked To GISBH With Police Cooperation – Selangor ExcoPolice Rescue Kidnap Victim, Suspect Shot DeadMalaysia More Selective In Choosing Foreign Investment For Country’s Greater Benefit – PM AnwarJPN Denies Viral Claims Of RM700 Cash AssistanceGovt Firm In Implementing Diesel Subsidy Rationalisation Despite Criticisms – PM AnwarSafwan Turns Hobby Into Winning Four Para SUKMA GoldBacolod property owner cleared in tax evasion rapsMOVETIX By AirAsia MOVE Partners With Ticketmelon To Enhance Asean’s Event Booking ExperiencePBA saddened by Amores’ attempted murder casePM Anwar Wants SMISTA Project In Bukit Jalil To Be Implemented QuicklyAice Philippines awards cash incentives to Paris Olympics medalistsNajib Did Not Request Feasibility Study For SRC Loan, Court ToldPBMM urged to declare September as alcohol harms awareness monthLabourer Pleads Not Guilty To Hurting Wife With IronPH returns to Tour of Langkawi cycling raceEntermind On A Quest To Provide Generation Alpha With Gen AI SpaceLTO warns employees vs. colluding with fixersProfit-taking Pressures Bursa Malaysia Into Afternoon DeclinePH marks World Contraception Day amid rise in teen pregnanciesResults Of 2024 Malaysia Para Games (Sept 26)3 suspects in shooting of village officer nabbed in QCNo More Single-use Plastic Bags At 20 Retail Chains From Oct 1 – NgaLocal index strong on possible BSP rate cute, peso flatFICO Survey: Rising Acceptance of ‘Liar Loans’ Among Malaysian ConsumersBill giving Muslims, IPs equal access in public cemeteries backedNREs Seeks Budget 2025 Boost To Empower DOE – Nik NazmizBlazers seek to keep NCAA leadGovt Mulls Converting 420,000 Hectares Of Abandoned Rubber Estates Into Bamboo Plantations — MinisterCICC warns public vs. SIM suspension scamFederal Court Upholds Labourer’s Death Penalty For Triple Murder Of ChildrenSenate to wrap up budget hearings Oct. 18Medidata Extends Its Commitment to the Patient Experience with the Launch of Patient PaymentsPBBM wants laws that ‘fully bring life to Constitution,’ protect WPSUEM Sunrise Achieves 100 Pct Take-up Rate For 3 Projects With RM499 Mln GDVDPWH launches online excavation permits in 3 regions
Sat. Sep 28th, 2024

Gamuda Up In Early Trade Following Strong FY2024 Results


Gamuda Bhd shares rose in early Friday trading following its strong performance in the financial year ended July 31, 2024 (FY2024), with annual revenue rising 63 per cent year-on-year to RM15 billion.

At 10.30 am, the counter rose by 18 sen to RM8.19 with 5.08 million shares traded.

Following its performance, Gamuda announced a one-for-one bonus issue which entails the issuance of 2.97 billion new shares at a date to be determined later. “We are positive on this development as we think that the bonus issue will enhance the liquidity of its share, thereby making it more appealing to a wider base of shareholders,” Public Investment Bank Bhd (PIVB) said in a note.

PIVB keeps its earning forecasts unchanged supported by its robust order book at RM25 billion, improving margin and expanding projects pipeline in both overseas and local markets, boosted by a booming data centre.

The investment bank remains optimistic about the group’s exciting prospects and retains an “Outperform” rating on Gamuda, with an uncha
nged target price (TP) of RM9.20.

Meanwhile, RHB Investment Bank Bhd (RHB IB) continues to favour Gamuda for its steady flow of job wins, which is targeted to hit an outstanding order book of RM30 billion by the end of 2024.

Domestic jobs with higher margins will also contribute positively. Hence, it expects overall construction margins to trend upwards.

“We project Gamuda to clinch another RM20 billion of new jobs in 2025 to achieve an order book level of RM40 billion by the end of that year,’ RHB IB said, adding that there is another potential RM10 billion worth of jobs between January to July 2025.

It has a “Buy” call with a TP of RM9.79.

Hong Leong Investment Bank Bhd (HLIB) also rated Gamuda with a “Buy” recommendation, with an unchanged TP of RM9.08.

It said the stock is poised to undergo a contract upcycle in the coming months leading up to its potential inclusion in the KLCI.

Source: BERNAMA News Agency

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