ACE Market
Industrial / Consumer
Shariah Compliant
Grade: B
HKB
Bursa Ticker: HKB | Listing Year: 2025
Offer Price
RM 0.34
Sifu Target Price
RM 0.21 (-37.3%)
Retail Oversubscription
20.0x
Underwriter (IB)
M&A Securities
Key Dates & Offering Details
Application Closing
TBA
Listing Date
09-Jun-2025
Target P/E Ratio
12x
Total Enlarged Shares
682.00 M
Free Float
22.0%
MITI Special Allocation
No Tranche
Analyst Commentary & Hunter Insight
HISTORICAL OUTLIER: Massive performance pop that defied standard grading.
Growth Catalysts & Strategic Moats
- Limpahan Infrastruktur Sarawak: Kontraktor binaan utama yang mendapat limpahan projek CAPEX infrastruktur besar di Sarawak.
- Pemegang Saham Berprestij: Disokong oleh rakan industri strategik seperti Solarvest Holdings Berhad dan pemegang saham institusi.
- Tenderbook Aktif: Membida projek jalan raya, jambatan, dan kemudahan awam bernilai tinggi di bawah peruntukan pembangunan Malaysia Timur.
Financial Performance Summary
| Financial Metric | FY23 | FY24 | FY25 | Projected (FY F) |
|---|---|---|---|---|
| Revenue (RM) | 85.00 M | 95.00 M | 103.80 M | 131.79 M |
| Profit After Tax (PAT) | 6.00 M | 8.00 M | 9.40 M | 11.94 M |
| EPS (sen) | 0.88 | 1.17 | 1.38 | +27.6% |
Utilization of Proceeds
Expansion & Working Capital
Peer Comparison & Valuation Context
Peer Comparison: Forward PE bernilai sekitar 19.0x, berpatutan bagi kontraktor binaan gred-A Sarawak.
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