*BIMB Securities - Company Update*
*GAMUDA* - PNB Exchangeable Sukuk: Fundamental Intact
*Target Price: RM6.73 / BUY*
📌 PNB’s US$300m exchangeable sukuk is at shareholder level, not linked to Gamuda-initiated funding, and requires no corporate action.
🛡️ The structure ensures no dilution, no balance sheet impact, and no change to Gamuda’s EPS or valuation base.
📉 Recent share price weakness reflects technical overhang and hedging concerns, which should ease as deal clarity improves.
📈 The current pullback presents an attractive accumulation opportunity at compelling valuations. 💡
📌 Click the link below for more info:
https://drive.google.com/file/d/1VQ7MDHAsioeI1HHp6JEg58zN5nAtrHop/view?usp=sharing
📞 If you need further assistance, you can reach us via Whatsapp at +60192066296
Best Regards,
Retail Dealing | BIMB Securities Sdn Bhd
*GAMUDA* - PNB Exchangeable Sukuk: Fundamental Intact
*Target Price: RM6.73 / BUY*
📌 PNB’s US$300m exchangeable sukuk is at shareholder level, not linked to Gamuda-initiated funding, and requires no corporate action.
🛡️ The structure ensures no dilution, no balance sheet impact, and no change to Gamuda’s EPS or valuation base.
📉 Recent share price weakness reflects technical overhang and hedging concerns, which should ease as deal clarity improves.
📈 The current pullback presents an attractive accumulation opportunity at compelling valuations. 💡
📌 Click the link below for more info:
https://drive.google.com/file/d/1VQ7MDHAsioeI1HHp6JEg58zN5nAtrHop/view?usp=sharing
📞 If you need further assistance, you can reach us via Whatsapp at +60192066296
Best Regards,
Retail Dealing | BIMB Securities Sdn Bhd
*BIMB Securities - Result Preview*
*CTOS* - 4Q25 Preview: Will likely Miss our FY25 Forecast
*Target Price: RM1.25 / BUY*
📊 4Q25F PATAMI of RM43mn (+33% YoY) 🚀, bringing FY25F to RM103mn (-5% YoY) 📉. Note: this includes a RM18mn gain from the sale of Experian 💼✨
📈 Results are above consensus 👍, but slightly below our FY25 forecast ⚖️
👔 Mr. Ankur Seghal officially joined onboard as CEO on 16 Jan 2026 🗓️
🟢 Maintain BUY 🛒, but lower TP to RM1.25 🎯, pegged to an unchanged 30x FY25 P/FCF 📐 — in line with global peers 🌍
📌 Click the link below for more info:
https://drive.google.com/file/d/1C28yAzA9mg_XIYewRKRmeKvo7lXVka4G/view?usp=sharing
📞 If you need further assistance, you can reach us via Whatsapp at +60192066296
Best Regards,
Retail Dealing | BIMB Securities Sdn Bhd
*CTOS* - 4Q25 Preview: Will likely Miss our FY25 Forecast
*Target Price: RM1.25 / BUY*
📊 4Q25F PATAMI of RM43mn (+33% YoY) 🚀, bringing FY25F to RM103mn (-5% YoY) 📉. Note: this includes a RM18mn gain from the sale of Experian 💼✨
📈 Results are above consensus 👍, but slightly below our FY25 forecast ⚖️
👔 Mr. Ankur Seghal officially joined onboard as CEO on 16 Jan 2026 🗓️
🟢 Maintain BUY 🛒, but lower TP to RM1.25 🎯, pegged to an unchanged 30x FY25 P/FCF 📐 — in line with global peers 🌍
📌 Click the link below for more info:
https://drive.google.com/file/d/1C28yAzA9mg_XIYewRKRmeKvo7lXVka4G/view?usp=sharing
📞 If you need further assistance, you can reach us via Whatsapp at +60192066296
Best Regards,
Retail Dealing | BIMB Securities Sdn Bhd
*BIMB Securities - Company Update*
*DAYANG* - Lack of Near-Term Earnings Catalyst
*Target Price: RM1.53 / TRADING SELL*
⚠️ We remain cautious on Dayang Enterprise, as earnings are expected to stay under pressure 📉 amid an offshore maintenance downcycle 🌊🔧, softer oil prices 🛢️⬇️ and Petronas–Petros uncertainty ❓
⏳ We see a lack of near-term earnings catalysts, with 4QFY25 and 1QFY26 results likely to remain weak 📊 due to the monsoon season 🌧️
📐 We maintain our earnings forecasts, which remain below consensus 👇, reflecting our more conservative assumptions on the pace of offshore maintenance recovery 🐢
🔻 In light of the absence of near-term catalysts 🚫✨ and the 16% share price appreciation 📈, which we view as unjustified ❌, we downgrade Dayang to TRADING SELL 🟥 with an unchanged TP of RM1.53 🎯
📌 Click the link below for more info:
https://drive.google.com/file/d/13nZ1lwiy_jFeVXIgo1rWVCqA-UCMNmMd/view?usp=sharing
📞 If you need further assistance, you can reach us via Whatsapp at +60192066296
Best Regards,
Retail Dealing | BIMB Securities Sdn Bhd
*DAYANG* - Lack of Near-Term Earnings Catalyst
*Target Price: RM1.53 / TRADING SELL*
⚠️ We remain cautious on Dayang Enterprise, as earnings are expected to stay under pressure 📉 amid an offshore maintenance downcycle 🌊🔧, softer oil prices 🛢️⬇️ and Petronas–Petros uncertainty ❓
⏳ We see a lack of near-term earnings catalysts, with 4QFY25 and 1QFY26 results likely to remain weak 📊 due to the monsoon season 🌧️
📐 We maintain our earnings forecasts, which remain below consensus 👇, reflecting our more conservative assumptions on the pace of offshore maintenance recovery 🐢
🔻 In light of the absence of near-term catalysts 🚫✨ and the 16% share price appreciation 📈, which we view as unjustified ❌, we downgrade Dayang to TRADING SELL 🟥 with an unchanged TP of RM1.53 🎯
📌 Click the link below for more info:
https://drive.google.com/file/d/13nZ1lwiy_jFeVXIgo1rWVCqA-UCMNmMd/view?usp=sharing
📞 If you need further assistance, you can reach us via Whatsapp at +60192066296
Best Regards,
Retail Dealing | BIMB Securities Sdn Bhd
*BIMB Securities - Technical Watch*
*CSCSTEL* - Breakout Sparks Fresh Bullish Momentum
📈 The price has decisively broken above its downward trendline resistance after three previous failed attempts ❌❌❌, signalling a potential bullish trend 🚀.
🔺 The breakout (refer arrow ➡️) was accompanied by a runaway gap 🕳️ and higher trading volume 📊⬆️, indicating strong bullish momentum 💪 and validating the move ✅, while the upward-sloping EMA 📐 suggests sustained buying interest 🟢 as market participants are willing to transact at higher prices 💰
🎯 Based on a Fibonacci trend-based projection 🧮, the upside targets are RM1.62 (0.618 level) ⭐ and RM1.81 (1.0 extension) 🌟
⚠️ On the downside, a break below RM1.23 and RM1.05 support levels 🛑 would invalidate the bullish view ❌
📌 Click the link below for more info:
https://drive.google.com/file/d/1tPF5pvma8-r9MxdmiwS_jpjb5dY98HQq/view?usp=sharing
📞 If you need further assistance, you can reach us via Whatsapp at +60192066296
Best Regards,
Retail Dealing | BIMB Securities Sdn Bhd
*CSCSTEL* - Breakout Sparks Fresh Bullish Momentum
📈 The price has decisively broken above its downward trendline resistance after three previous failed attempts ❌❌❌, signalling a potential bullish trend 🚀.
🔺 The breakout (refer arrow ➡️) was accompanied by a runaway gap 🕳️ and higher trading volume 📊⬆️, indicating strong bullish momentum 💪 and validating the move ✅, while the upward-sloping EMA 📐 suggests sustained buying interest 🟢 as market participants are willing to transact at higher prices 💰
🎯 Based on a Fibonacci trend-based projection 🧮, the upside targets are RM1.62 (0.618 level) ⭐ and RM1.81 (1.0 extension) 🌟
⚠️ On the downside, a break below RM1.23 and RM1.05 support levels 🛑 would invalidate the bullish view ❌
📌 Click the link below for more info:
https://drive.google.com/file/d/1tPF5pvma8-r9MxdmiwS_jpjb5dY98HQq/view?usp=sharing
📞 If you need further assistance, you can reach us via Whatsapp at +60192066296
Best Regards,
Retail Dealing | BIMB Securities Sdn Bhd
*BIMB Securities - Company Update*
*ZETRIX* - MyDigital ID's Path to Financial Sector Integration
*Target Price: RM1.33 / BUY*
The MyDigital ID sandbox has scaled to 18 participating banks (up from 15 in Phase 1) to test real-world e-verification capabilities 📈. Similar to the SingPass model, MyDigital ID could scale from government services to widespread adoption across banks and commercial sectors, highlighting its structural importance for Malaysia’s national digital ID initiative 🔒. We reiterate our BUY call with a target price of RM1.33 based on a 5-year average forward PER of 13.0x applied to 2026F EPS of 10.2 sen 💰.
📌 Click the link below for more info:
https://drive.google.com/file/d/138NwBCpJKzO837N8g2y-akGXOgyx_rDp/view?usp=sharing
📞 If you need further assistance, you can reach us via Whatsapp at +60192066296
Best Regards,
Retail Dealing | BIMB Securities Sdn Bhd
*ZETRIX* - MyDigital ID's Path to Financial Sector Integration
*Target Price: RM1.33 / BUY*
The MyDigital ID sandbox has scaled to 18 participating banks (up from 15 in Phase 1) to test real-world e-verification capabilities 📈. Similar to the SingPass model, MyDigital ID could scale from government services to widespread adoption across banks and commercial sectors, highlighting its structural importance for Malaysia’s national digital ID initiative 🔒. We reiterate our BUY call with a target price of RM1.33 based on a 5-year average forward PER of 13.0x applied to 2026F EPS of 10.2 sen 💰.
📌 Click the link below for more info:
https://drive.google.com/file/d/138NwBCpJKzO837N8g2y-akGXOgyx_rDp/view?usp=sharing
📞 If you need further assistance, you can reach us via Whatsapp at +60192066296
Best Regards,
Retail Dealing | BIMB Securities Sdn Bhd
*BIMB Securities - Company Update*
*T7GLOBAL* - KLIA BHS Project Back on the Right Track
*Target Price: RM0.40 / BUY*
T7 Global announced the extension of the KLIA BHS project completion to 4Q28, following earlier execution delays caused by logistical constraints amid stronger-than-expected passenger traffic at the terminal 📆. We view the resequencing positively, as the resumption of project works should place the company back on track for steadier execution going forward 👍. We maintain our BUY recommendation with an unchanged TP of RM0.40. We view the current valuation as undemanding given its earnings visibility and expanding operational footprint 💼.
📌 Click the link below for more info:
https://drive.google.com/file/d/1FpKL_RBbAm_UtyhGK7cvCe-SI2tUQ8oe/view?usp=sharing
📞 If you need further assistance, you can reach us via Whatsapp at +60192066296
Best Regards,
Retail Dealing | BIMB Securities Sdn Bhd
*T7GLOBAL* - KLIA BHS Project Back on the Right Track
*Target Price: RM0.40 / BUY*
T7 Global announced the extension of the KLIA BHS project completion to 4Q28, following earlier execution delays caused by logistical constraints amid stronger-than-expected passenger traffic at the terminal 📆. We view the resequencing positively, as the resumption of project works should place the company back on track for steadier execution going forward 👍. We maintain our BUY recommendation with an unchanged TP of RM0.40. We view the current valuation as undemanding given its earnings visibility and expanding operational footprint 💼.
📌 Click the link below for more info:
https://drive.google.com/file/d/1FpKL_RBbAm_UtyhGK7cvCe-SI2tUQ8oe/view?usp=sharing
📞 If you need further assistance, you can reach us via Whatsapp at +60192066296
Best Regards,
Retail Dealing | BIMB Securities Sdn Bhd
*BIMB Securities - Company Update*
*SLVEST* - Solid orderbook; strong earnings trajectory
*Target Price: RM3.24 / BUY*
We expect the LSS5+ prospect with Malakoff to drive orderbook upside, exceeding the RM2.5bn mark 🚀. FY26F net profit margin to sustain at ~10% (+3 ppts from FY24 level) on advanced execution, but to normalize in FY27–28F. Our FY26-28F earnings forecasts adjusted higher by 46.5% on average, to better align with the ongoing EPCC project schedule, higher outstanding orderbook and steady profit margin. Upgrade to BUY with SOP-derived TP increased to RM3.24 💰. This report marks a transfer of coverage.
📌 Click the link below for more info:
https://drive.google.com/file/d/1B16mw0J7QFqBEx6qTd39QzdFqdvywGDL/view?usp=sharing
📞 If you need further assistance, you can reach us via Whatsapp at +60192066296
Best Regards,
Retail Dealing | BIMB Securities Sdn Bhd
*SLVEST* - Solid orderbook; strong earnings trajectory
*Target Price: RM3.24 / BUY*
We expect the LSS5+ prospect with Malakoff to drive orderbook upside, exceeding the RM2.5bn mark 🚀. FY26F net profit margin to sustain at ~10% (+3 ppts from FY24 level) on advanced execution, but to normalize in FY27–28F. Our FY26-28F earnings forecasts adjusted higher by 46.5% on average, to better align with the ongoing EPCC project schedule, higher outstanding orderbook and steady profit margin. Upgrade to BUY with SOP-derived TP increased to RM3.24 💰. This report marks a transfer of coverage.
📌 Click the link below for more info:
https://drive.google.com/file/d/1B16mw0J7QFqBEx6qTd39QzdFqdvywGDL/view?usp=sharing
📞 If you need further assistance, you can reach us via Whatsapp at +60192066296
Best Regards,
Retail Dealing | BIMB Securities Sdn Bhd