Good Morning All,
We issued a company update report on our coverage stock EITA Resources Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
EITA Resources Berhad announced that its 60%-owned subsidiary, TransSystem Continental Sdn. Bhd., received a Notification of Award dated 17 August 2026 worth approximately RM221.0m from Syarikat SESCO Berhad. The contract entails carrying out the Mapai 500kV substation and Mapai 275kV substation extension project in Sarawak. The project duration is 25 months, commencing on 7 September 2026. The award will not affect the group's share capital or shareholding structure and is expected to contribute positively to group revenue and earnings across FY27f– FY28f.
Maintain HOLD with a higher TP of RM0.69. Following our earnings upgrades, we maintain our Hold call on EITA with a higher target price of RM0.69 (up from RM0.60). The target price is derived based on an unchanged P/E target ratio of 11.0x pegged to our revised FY27f EPS of 6.29 sen. Although the contract win significantly improves earnings visibility, the share price has already rallied ahead of the announcement, largely pricing in the positive momentum.
Research Team, M+ Global
27 Aug 2026
August 27, 2026 1.8K 7
