PETALING JAYA: AWC Bhd
’s financial year 2026 (FY26) earnings is projected to grow by 12.4%, driven by the anticipated stronger performance in the environment and engineering segments, according to Hong Leong Investment Bank (HLIB) Research.
The research house in a note said the management reckons the Middle East market is improving, with previously delayed projects now picking up.
Notably, the group expects to secure a few plots in Al Raha Beach Resort development in FY26 versus three secured in FY25.
This recovery is also reflected in the RM9mil Dubai residential project, which had been delayed over the past two quarters and is now slated to restart and contribute in FY26.
“As for Singapore and Malaysia, the group anticipates securing more transportation hub projects in FY26, including the KLIA 1 retrofit job and Changi Airport Terminal.
“Between the two markets, management expects Malaysia to gain further traction, while demand in Singapore should remain steady.
“Overall, the environment division is expected to match its FY24 record-high performance of RM104mil (versus FY25’s RM87.8mil), supported by a record-high order book of about RM190mil,” it said.
After delivering its best-ever profit before tax of RM6.9mil in FY25 (versus RM4.2mil in FY24), the group is hopeful that the engineering segment’s performance in FY26 will sustain, if not surpass, this level, HLIB Research said.
