About 2-3 months ago, I wrote about the underlying themes that I noticed at play, which in my opinion have some real economic value being generated and are not zero sum games. You can read that short musing here: https://cutt.ly/EwBnXAIM

Another group of companies that could be worth looking into is...
Water infrastructure suppliers.

We all know that the tariffs for water had just been increased on average by 22 sen per m3. @GoldieLoh had been covering PBA brilliantly as the water supplier of Penang and how they benefit from the revision.

From publicly available information, we know that a portion of the increased revenue should be channeled to improving water infrastructure, and to reduce NRW. This includes replacing old/worn out pipes, building new treatment plants, and so on.

Engtex had been highlighted by a few research houses as the prime beneficiary, and indeed their share price has already gone up by close to 100% since a few months back.

But, other than Engtex, there are a few other players manufacturing or distributing a variety of steel, iron, and polymer pipes and valves commonly used in the water infrastructure works.

To what extent they will benefit from this trend, you'll have to do your further due diligence. But let me just tag these companies here for your own further action:

$YLI / 7014 (YLI HOLDINGS BERHAD)
$RESINTC / 7232 (RESINTECH BERHAD)
$UNIMECH / 7091 (UNIMECH GROUP BERHAD)
$UNITRAD / 0247 (UNITRADE INDUSTRIES BERHAD)
$FITTERS / 9318 (FITTERS DIVERSIFIED BERHAD)
PANTECH

and so on...

Which will benefit most or substantially? And how would they return profit to shareholders?

I would evaluate them based on that. Good luck!