Mega First: Riding On Higher Water Level In 2H (MFCB MK, Outperform, TP: RM4.95)

According to analysts from PIB, management of Mega First reiterated its intention to pivot capital deployment towards renewable energy and healthcare while continuing to streamline non-core businesses. The group has two new solar projects in the pipeline and has begun energising its Maldives project.

Mega First

It is also exploring opportunities across several renewable energy segments, including i) hydropower projects in Laos, ii) battery energy storage systems (BESS), iii) corporate renewable energy supply schemes (CRESS), iv) pumped storage, and vi) solar projects in Malaysia. Retain Outperform with an unchanged SOP-based TP of RM4.95.

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