HiMobility: RTS and EV Buses Drive Growth

KUALA LUMPUR, Oct 1, 2026 – HiMobility (HiMob) remains on track for strong earnings growth, with analysts maintaining a BUY call at RM3.10, pegged to 20x FY28F P/E.

The company delivered 1HFY27 PATMI of RM33 million (+7% YoY), in line with expectations. Earnings are projected to rise 26% HoH in 2H, supported by cross-border ridership recovery towards 80% utilisation and the start of external deliveries for Prasarana’s 250-unit EV bus order from 3QFY27.

HiMobility

Beyond FY27F, catalysts include the expanded Johor SBST/RTS scope, with discussions nearing finalisation and a potential contract size more than double the existing SBST. Additionally, Prasarana’s 645-unit EV bus tender offers further upside for FY28F–FY29F.

Analysts highlight HiMob’s integrated mobility platform spanning bus operations, vehicle assembly and e-mobility services, which broadens its earnings base beyond ridership alone. The company is positioned to benefit from Malaysia’s evolving public transport landscape.

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