Top Stories
Company Update | Gas Malaysia (GMB MK/HOLD/RM5.25/Target:RM6.00)
We expect a sequentially weaker 2Q26 on the back of weak NG prices, higher staff and administrative costs and marginally lower returns on regulated assets. The high oil prices will translate into higher NG prices from 4Q26 onwards, driving earnings growth into 2027. We trim 2026 earnings by 7%. Maintain HOLD on GMB with a target price of RM6.00, with a RM0.58/share valuation baked into our fair value for Yan RGT.
Market Spotlight
- The FBMKLCI continued to slide by 13.57pt to close at 1,701.02 last Friday amid persistent selling pressure across index counters.
- US stocks were mixed after the close on Friday, as gains in the telecoms, financials and healthcare sectors led shares higher while losses in the technology, utilities and oil & gas sectors led shares lower.
Technical Analysis
FBMKLCI, FCPO & FKLI Index Outlook
Traders’ Corner
Hextar Global | HAL MK
Trading Buy Range: RM0.79-0.795
HSS Engineers | HSS MK
Trading Buy Range: RM0.445-0.45
Inch Kenneth Kajang Rubber | IKEN MK
Trading Buy Range: RM0.505-0.51
Top Stories
Company Update | Gas Malaysia (GMB MK/HOLD/RM5.25/Target:RM6.00)
We expect a sequentially weaker 2Q26 on the back of weak NG prices, higher staff and administrative costs and marginally lower returns on regulated assets. The high oil prices will translate into higher NG prices from 4Q26 onwards, driving earnings growth into 2027. We trim 2026 earnings by 7%. Maintain HOLD on GMB with a target price of RM6.00, with a RM0.58/share valuation baked into our fair value for Yan RGT.
Market Spotlight
- The FBMKLCI continued to slide by 13.57pt to close at 1,701.02 last Friday amid persistent selling pressure across index counters.
- US stocks were mixed after the close on Friday, as gains in the telecoms, financials and healthcare sectors led shares higher while losses in the technology, utilities and oil & gas sectors led shares lower.
Technical Analysis
FBMKLCI, FCPO & FKLI Index Outlook
Traders’ Corner
Hextar Global | HAL MK
Trading Buy Range: RM0.79-0.795
HSS Engineers | HSS MK
Trading Buy Range: RM0.445-0.45
Inch Kenneth Kajang Rubber | IKEN MK
Trading Buy Range: RM0.505-0.51
IMPORTANT NOTICE - DISCLOSURES AND DISCLAIMERS
This report is provided subject to, and must be read together with, the full Disclosures / Disclaimers available at the following link: https://research-api.uobkayhian.com/assets/disclaimer/b0eb5c9a-646b-4c58-a731-61902a719509, 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.
