PETALING JAYA: Water technology and asset management outfit Insight Analytics Bhd is expected to gain from Sarawak’s rollout of water infrastructure projects after winning a RM58.4mil project in January.
CIMB Research, which has reiterated a “buy” call on the stock with a target price of RM2.10, has also maintained financial year ending April 30, 2026 (FY26) to FY28 earnings per share forecasts assuming RM130mil total new contract wins, besides additional upside from Peninsular Malaysia.
It noted that at 15 times 2027 price-to-earnings, the stock’s valuation remains undemanding given its dual-engine growth profile and scarcity as Malaysia’s only listed pure-play in digital water and intelligent asset management.
“We continue to view Insight Analytics as a key proxy for Malaysia’s smart utility and digital infrastructure transformation, supported by long-term initiatives such as Water Sector Transformation 2040, Budget 2026 and the broader national digitalisation agenda,” it added.
It considers a legal case concerning the company’s intelligent asset management solutions (IAMS), in which a statement of claim seeking RM8.5mil in outstanding payments by Place2Stay Management Sdn Bhd, as a near-term overhang.
It said there could be limited impact on the company’s IAMS, which contributed 10.2% to revenue in the third quarter ended Jan 31, 2026, and 30.8% to revenue in the nine-month period.
It added that the company’s partnership with Hong Kong-listed 51World Digital Twin Technology Co Ltd announced in February would benefit the IAMS business.
