KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
MN Holdings Bhd (KL:MNHLDG) is emerging as a key beneficiary of Malaysia’s Budget 2026 renewable energy and grid modernization drive, with analysts expecting strong earnings momentum and further contract wins.
Maybank Investment Bank (Maybank IB) has raised its target price to RM2.27 — the highest among research houses — while reiterating a ‘Buy’ rating on the stock. The new target implies a potential 30% upside from current levels.
According to Maybank IB, Budget 2026’s green investment incentives and the government’s renewed focus on cross-border power infrastructure under the Asean Power Grid will spur demand for MN Holdings’ substation, cabling, and grid connection works.
The engineering services provider has already seen its share price nearly double over the past year, driven by stronger project billings and optimism around data centre-linked power infrastructure.
MN Holdings currently holds an order book of RM1.1 billion and is bidding for another RM1.2 billion in new contracts. Maybank IB has raised its FY2026–FY2028 earnings forecasts by 7%–12%, citing higher job visibility from both the public and private sectors.
One of its major data centre projects is on track for completion in FY2026, and analysts estimate the group could secure up to RM600 million worth of new jobs over FY2027–FY2028, supported by:
Continued data centre expansion among multinational clients
Renewable energy-related infrastructure development
Higher substation demand under regional grid initiatives
Other brokerages, including Phillip Capital and Hong Leong Investment Bank, also maintain ‘Buy’ calls on MN Holdings, reflecting broad consensus on the group’s growth trajectory amid Malaysia’s accelerating energy transition.
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