Broker Name: Maybank Investment Bank Berhad
Date of Report: March 13, 2026
Excerpt from Maybank Investment Bank Berhad report.
- MN Holdings (MNH) has secured a MYR216m data centre substation project, raising its outstanding orderbook to MYR1.1b and year-to-date job wins to MYR476.2m.
- Maybank expects stronger replenishment momentum, lifts earnings forecast by 7-44% for FY26-28E, and maintains a BUY rating with a higher target price of MYR2.47, supported by a robust MYR2.9b tender book and solid execution track record.
Report Summary
- MN Holdings is seeing rapid growth in infrastructure contracts, especially in data centre and substation projects.
- The company’s strong tender pipeline and earnings visibility underpin the increase in target price and positive outlook.
Above is an excerpt from a report by Maybank Investment Bank Berhad. Clients of Maybank Investment Bank Berhad can be the first to access the full report from the Maybank Investment Bank Berhad website: https://www.maybank.com/investment-banking
