Ranhill shares jump 8pct to all-time high
KUALA LUMPUR: Ranhill Utilities Bhd’s shares hit an all time high on Monday, lifted by rising demand for industrial water infrastructure and Johor’s data centre boom.
Ranhill Utilities Bhd's shares reached a record high on Monday, driven by increased demand for industrial water infrastructure and the booming data center industry in Johor. The stock climbed 8.25 percent, or 24 sen, from its previous closing price of RM2.91, settling at RM3.15. Over 3 million shares changed hands throughout the trading day.
Since the start of the year, Ranhill's share price has surged 86.39 percent, making it worth RM3.77 billion. Hong Leong Investment Bank Bhd's outlook for the company, dated September 18, suggests that the restructuring of Johor's water sector, following a tariff increase, and the rising demand for data centers will benefit Ranhill.
The bank's analysis indicates that the August 2025 tariff hike has significantly improved the company's earnings prospects. For the fiscal year ending June 30, 2026, Ranhill reported a net profit of RM196.61 million and revenue of RM2.49 billion.
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