Broker Name: CGS International

Date of Report: March 10, 2026

Excerpt from CGS International report.

Report Summary

• Kumpulan Kitacon Bhd secured a RM89 million residential construction contract in Rawang from an existing client, bringing year-to-date (YTD) contract wins to RM91 million and keeping it on track to meet the RM900 million target for FY26F.
• Kitacon’s orderbook stands at RM1.6 billion (2x FY25 revenue), with a healthy tender pipeline and growing non-residential exposure supporting earnings visibility; the stock is rated Add with a target price of RM1.26, reflecting attractive valuation and robust financials.

Above is an excerpt from a report by CGS International. Clients of CGS International can be the first to access the full report from the CGS International website: https://www.cgs-cimb.com