Engtex poised to get more water pipe orders

Kenanga Research said it would lift its FY24 expectation earnings by 69% to reflect strong pipe orders and overall margins.

PETALING JAYA: Engtex Group Bhd is likely to receive more water pipe orders following the recent annoucement of water tariff hike, according to Kenanga Research.

As the panel water pipe supplier of Pengurusan Aset Air Bhd, Ranhill SAJ and Pengurusan Air Selangor, the hike is expected to strengthen the groups’ cash flow as water operators kick start their capital expenditure programmes, said the research house.