$MUHIBAH / 5703 (MUHIBBAH ENGINEERING (M) BHD)
Research by CGS
Add - TP RM1.34

"Strong earnings delivery in 2Q24"

■ 2Q24 results within expectations; strong construction and concession profits
■ Orderbook remains strong but we see some urgency to replenish new wins
■ Reiterate Add and SOP-derived TP of RM1.34

Analyst:
CHONG Tjen-San, CFA
E tjen-san.chong@cgsi.com