Insights Analytics Bhd (IAB) shares edged higher in morning trade, extending gains after the group secured a RM14.44 million subcontract for a water treatment plant in Sarawak and retained a “buy” rating from CIMB Securities.
At 11.58 am, IAB (0376) was last done at RM1.250, up 2 sen or 1.63% from the previous close of RM1.230. The stock traded between RM1.240 and RM1.260, with 501,500 shares changing hands.
The advance follows IAB’s October 6 announcement that its subsidiary, Insights Analytics Technologies, accepted a letter of award from K J S Capital to act as subcontractor for the Suai Water Treatment Plant in Miri. The fixed-price contract covers construction, operation and maintenance of the 7 million litres per day facility under a design, build and operate arrangement.
IAB’s scope involves upgrading existing treatment equipment and retrofitting the plant with IoT-enabled systems to digitalise operations. Construction runs from October 13, 2026 to April 10, 2027, followed by a 60-month operation and maintenance period.
CIMB Securities maintained its buy call on IAB with an unchanged target price of RM1.80, saying the award strengthens the group’s track record in Sarawak’s water infrastructure rollout. The research house estimated IAB’s outstanding order book at about RM50 million, with a tender book of approximately RM500 million.
CIMB expects modest earnings contribution from the Suai project in late FY10/26, with fuller impact in 1HFY10/27F. It kept FY26–FY28 earnings forecasts unchanged, noting its assumptions already factor in further contract wins.
IAB, which listed on the ACE Market in October 2025 at 36 sen, has traded between a 52-week low of RM0.620 and a high of RM2.0005. Shares closed 3.3% higher at RM1.25 on Tuesday following the contract announcement, valuing the company at about RM687.5 million.
