Muhibbah Engineering poised for more contract wins

Rakuten Trade Research expects Muhibbah to benefit from its associate’s explosive earnings recovery from airports in Cambodia.

PETALING JAYA: Muhibbah Engineering (M) Bhd is poised to win more contracts from the oil and gas services and public infrastructure segments as both enter up-cycles, says Rakuten Trade Research.

The research house noted that as of February 2024, Muhibbah’s outstanding order book for the construction and cranes division stood at RM2.21bil, which is 1.7 times its financial year ended Dec 31, 2023 (FY23) revenue cover ratio.