Stock Market Focus Of The Day

MEGA FIRST (BUY Maintained, TP: RM5.18) Resilient earnings from DSHP

Mega First’s (MFCB) Edenor oleo JV is expected to swing into the black in 2HFY25 as gas supply at Teluk Panglima Garang resumes and capacity shutdowns decline. Recall that gas supply was disrupted by the explosion at Putra Heights, which took place in April 2025. We think that MFCB’s net profit would improve QoQ in 2QFY25 on the back of smaller oleo losses. MFCB’s net profit is expected to recover in FY26F underpinned by a turnaround in the oleo JV. We maintain BUY on MFCB with a target price of RM5.18/share. 

Stock – Mega First

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