MN Holdings Secures RM216 Million Contract, Order Book Reaches RM1.05 Billion
Hong Leong Investment Bank maintains a BUY rating on MN Holdings, raising the target price to RM2.55 due to a strong order book and growth in key sectors. MN Holdings' subsidiary, Mutu Nusantara, secured a RM216 million contract for a CLS substation in southern Malaysia, bringing the total order book to RM1.05 billion. The company anticipates additional contract wins that could increase project awards to RM900 million for FY26. Earnings forecasts have been raised for FY26, FY27, and FY28, supported by a growing tender book.
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Hong Leong Investment Bank Bhd (HLIB) has upgraded its target price for MN Holdings Bhd to RM2.55, citing the company's expanding order book and strong execution capabilities. MN Holdings' subsidiary, Mutu Nusantara, has secured a RM216 million contract for a CLS substation in southern Peninsular Malaysia, starting February 1, 2026, and set for completion by September 2026.
This contract increases MN Holdings' order book to RM1.05 billion, expected to sustain operations over the next two years. HLIB raised earnings forecasts due to potential contract wins totaling RM900 million for FY26, backed by a RM2.9 billion tender book. The stock price rose by 2.48% to RM1.65.
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