EI Power surged to fresh high of 94 sen
KUALA LUMPUR: EI Power Bhd surged almost 12 per cent to a fresh high of 94 sen in early trade on Friday, extending its strong run since making its ACE Market debut in May.
On Friday, EI Power Bhd experienced a significant surge, reaching a record high of 94 sen in early trading, marking a 12% increase from its ACE Market debut in May. The stock opened 1.7% higher at 85.5 sen, before peaking at 94 sen. Currently, it has climbed to 91 sen, generating a market capitalization of approximately RM637 million.
With 8.58 million shares traded, EI Power became the tenth most actively traded stock on Bursa Malaysia. Since its debut, the stock has skyrocketed by 65.45%, showcasing its strong performance. Hong Leong Investment Bank (HLIB) anticipates EI Power to deliver stronger earnings in the second half of 2026, attributing this to the company's substantial order book and upcoming revenue recognition.
According to HLIB's September 17 note, EI Power has secured RM219 million in orders, with year-to-date wins amounting to RM174 million, accounting for 96% of their full-year projection. With four months left, HLIB expects order wins to exceed their initial forecast, driven by Tenaga Nasional Bhd's approval of additional data center capacity. This pipeline could yield between RM750 million and RM1 billion in potential projects for EI Power in FY27 and FY28.
Furthermore, EI Power's subsidiary, EI Power Technologies Sdn Bhd, announced the acquisition of a freehold factory in Shah Alam for RM17.2 million, funded primarily by the proceeds from its initial public offering.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
