Gamuda Up On RM52.3 Bln Order Book, Strong FY2027 Outlook

KUALA LUMPUR, June 26 (Bernama) -- Heavyweight Gamuda Bhd's shares traded higher in early trade on Friday after recording improved third quarter financial year 2026 (3Q FY2026) results and an outstanding order book of RM52.3 billion as at April 2026.

At 10.39 am, the engineering, infrastructure and property development company, which has a 2.70 per cent weighting in the FBM KLCI, saw its share price rise four sen, or 0.94 per cent, to RM4.29, with 2.06 million shares traded.

MBSB Investment Bank said with 75 per cent of projects at mobilisation and early execution stages, FY2027 marks the start of a stronger earnings upcycle.

The property division is also entering its next growth phase beyond construction, underpinned by RM10 billion in its FY2027 launch pipeline across Vietnam, Singapore and Malaysia.

MBSB maintained its "Buy" recommendation with an unchanged target price (TP) of RM5.60, retaining the counter as top construction pick.

Meanwhile, RHB Investment Bank maintains its "Buy" call with a TP of RM6.19.

Further valuation upside, supported by Gamuda's data centre capabilities and a pipeline of opportunities in Australia worth over A$50 billion for FYs 2027-2029, supports this, RHB IB said.

A prolonged period of elevated input costs is the key downside risk, it said.

-- BERNAMA