Key Indices
Top Stories
Company Results | Pentamaster Corporation (PENT MK/HOLD/RM5.71/Target: RM5.20)
Pentamaster’s results were below expectations due to higher tax rates following the expiry of Pioneer tax incentives. That said, orderbook has improved to RM550m (+15% qoq) anchored mainly by the AI compute and medical segments. The group is actively exploring opportunities in AI, DC, high-performance computing and networking to capture next-gen technology growth. Trim 2026 earnings by 10% mainly to reflect higher tax rates. Maintain HOLD. Target price: RM5.20.
Company Update | Mah Sing Group (MSGB MK/BUY/RM1.12/Target: RM1.42)
We expect Mah Sing’s 2Q26 core earnings to be within RM72m-75m, while sales should remain on track to meet its fullyear target of RM2.76b. We see scope for further re-rating as Mah Sing builds its industrial exposure through MS Industrial Park @ Kulai and unlocks potential value from data centre land sales at Southville City and Meridin East. The stock currently trades at 10.0x/9.3x 2026F/27F PE and 0.7x 2026/27F P/B. Maintain BUY with an unchanged target price of RM1.42.
Market Spotlight
- The FBMKLCI declined 11.02pt to close at 1,737.15 yesterday, weighed down by selling pressure in selected heavyweights and index-linked counters.
- US stocks were lower after the close on Thursday, as losses in the industrials, consumer goods and utilities sectors led shares lower.
Technical Analysis
FBMKLCI, FCPO & FKLI Index Outlook
Traders’ Corner
Citaglobal | CITAGLB MK
Trading Buy Range: RM0.86-0.88
DRB-Hicom | DRB MK
Trading Buy Range: RM2.51-2.52
LB Aluminium | LBA MK
Trading Buy Range: RM0.48-0.485
Top Stories
Company Results | Pentamaster Corporation (PENT MK/HOLD/RM5.71/Target: RM5.20)
Pentamaster’s results were below expectations due to higher tax rates following the expiry of Pioneer tax incentives. That said, orderbook has improved to RM550m (+15% qoq) anchored mainly by the AI compute and medical segments. The group is actively exploring opportunities in AI, DC, high-performance computing and networking to capture next-gen technology growth. Trim 2026 earnings by 10% mainly to reflect higher tax rates. Maintain HOLD. Target price: RM5.20.
Company Update | Mah Sing Group (MSGB MK/BUY/RM1.12/Target: RM1.42)
We expect Mah Sing’s 2Q26 core earnings to be within RM72m-75m, while sales should remain on track to meet its fullyear target of RM2.76b. We see scope for further re-rating as Mah Sing builds its industrial exposure through MS Industrial Park @ Kulai and unlocks potential value from data centre land sales at Southville City and Meridin East. The stock currently trades at 10.0x/9.3x 2026F/27F PE and 0.7x 2026/27F P/B. Maintain BUY with an unchanged target price of RM1.42.
Market Spotlight
- The FBMKLCI declined 11.02pt to close at 1,737.15 yesterday, weighed down by selling pressure in selected heavyweights and index-linked counters.
- US stocks were lower after the close on Thursday, as losses in the industrials, consumer goods and utilities sectors led shares lower.
Technical Analysis
FBMKLCI, FCPO & FKLI Index Outlook
Traders’ Corner
Citaglobal | CITAGLB MK
Trading Buy Range: RM0.86-0.88
DRB-Hicom | DRB MK
Trading Buy Range: RM2.51-2.52
LB Aluminium | LBA MK
Trading Buy Range: RM0.48-0.485
Key Indices
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This report is provided subject to, and must be read together with, the full Disclosures / Disclaimers available at this link, which are incorporated by reference into this report. In particular, this report is intended for general circulation and informational purposes only and does not constitute personal investment advice or a recommendation to buy or sell any investment product or security. You should independently evaluate the information and, where necessary, seek advice from a qualified financial adviser regarding the suitability of any investment. Analyst certifications required under applicable regulations, including SEC Regulation AC (where relevant), are included in this report. By accessing, receiving or using this report, you acknowledge that you have read, understood and agreed to be bound by the Disclosures / Disclaimers, as may be amended, supplemented or updated from time to time.
