KUALA LUMPUR (Jan 9): Insights Analytics Bhd (KL:IAB) resumed its ascent on Friday and broke new all-time highs after the company announced a contract win that would nearly triple the value of the jobs on hand.
Shares of Insights Analytics added as much as 19 sen or 11% to RM1.91 on news of a subcontract worth RM58.4 million for works on the proposed Betong to Pusa Regional Water Supply Grid in Sarawak. The stock ended at RM1.90 after more than 26 million shares changed hands.
“We are positive on this new contract win, as it underscores the accelerating roll-out of water infrastructure projects by the Sarawak government,” said CIMB Securities, the sole research firm covering the stock, in a note.
The win raises Insights Analytics’ estimated order book by 192% to RM88.8 million, while the company’s tender book remains healthy as it bids for jobs worth between RM200 million and RM250 million, the house noted.
Insights Analytics has been charting fresh record highs since the Sarawak-based firm, which mainly provides asset management systems to water utilities, was listed less than three months ago. The stock has racked up more than 50% gain this week alone before taking a breather on Thursday.
Malaysia has identified initiatives to combat non-revenue water — treated water that doesn’t reach consumers and fails to be billed — as one of the priority areas under the Water Sector Transformation 2040 road map and Budget 2026.
CIMB Securities, which began regular coverage of Insights Analytics on Monday, said the company is expected to secure new jobs totalling RM130 million over the next three fiscal years ending April 30.
For now, the research house is keeping its earnings forecast for Insights Analytics as well as its ‘buy’ rating and target price of RM2.10.