Growth in RE seen for Kumpulan Powernet

AmInvestment Bank Research said: "“We believe KPower is giving Samaiden, Solarvest (pic), Cypark Resources and Megafirst Corp a run for their money, a handful of listed companies that have proven capability and track record in carrying out EPCC solar projects."

PETALING JAYA: In anticipation of the growth potential seen for Kumpulan Powernet Bhd (KPower) in financial year 2021 and next, AmInvestment Bank Research has reiterated its “buy” recommendation on the stock.

It has a fair value of RM5.97 on the stock based on 15 times financial year 2022 (FY22) earnings per share, which is at a discount to the average forward 20 times price-earnings of leading renewable energy (RE) players globally.