ACE Market debutant West River emerges as most actively traded stock
KUALA LUMPUR: ACE Market debutant West River Bhd, which has emerged as the most actively traded stock this morning, is well-positioned for sustained growth, said Rakuten Trade Sdn Bhd.
This is evidenced by the company's sizable unbilled order book of RM247.3 million across 26 active contracts, it said.
In a note, the online stock broking company said West River is also actively tendering for 101 projects totalling RM1.03 billion.
Equipped with the prestigious G7 Construction Industry Development Board (CIDB)and Class A ST licenses, the company is eligible to bid for projects of unlimited value, significantly widening its market reach.
"As Malaysia's mechanical and electrical (M&E) engineering sector benefits from continuing urbanisation, infrastructure investment, and demand for energy-efficient systems, especially in data centres, healthcare, and commercial buildings, West River stands to gain from regulatory tailwinds that favour certified and sustainable solutions,' said Rakuten Trade.
Overall, it is optimistic about West River's prospects, premised on its robust contract pipeline, digital capabilities, and healthy net cash balance sheet, which collectively equip the group to sustain long-term growth post-listing.
It recommended a "buy' call with a fair value of 47 sen for the company.
As at 10 am, West River's share price was 1.0 sen lower at 38 sen, with 40.17 million shares traded. - Bernama
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