Much room for Muhibbah to secure more jobs

At a reasonable profit margin of about 5%, MIDF Research noted that the new contract win would contribute about RM9.7mil to the group.

PETALING JAYA: Muhibbah Engineering Bhd’s new contract win brings the group’s current outstanding order book to RM1.29bil, which provides earnings visibility up to financial year 2024 (FY24), according to MIDF Research.

“There is still much room for securing jobs as the group’s outstanding order book has yet to return to pre-pandemic levels, which were usually about RM1.5bil to RM2bil,” the research house said in its latest report.