Public Investment Bank cut target to MYR 0.67 for Wasco stock

Published on 10/25/2026 at 01:34 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Earnings forecasts fell 59.00 percent for FY2026 on October 1, 2026. Wasco stock had a MYR 409 million Q2 2026 pipeline order book.

Targets and execution metrics

Public Investment Bank set a MYR 0.67 target on October 1, 2026.
Forecasts for fiscal year 2026 were cut by 59.00 percent.
Wasco's market capitalization stood at MYR 545.9 million on October 23, 2026.

Wasco, MYL5142OO004, Illustration mit AI erstellt.

Wasco (ISIN MYL5142OO004) faced a lower target of MYR 0.67 after Public Investment Bank cut it from MYR 1.03 on October 1, 2026, according to KLSE Screener. The change made execution in the Middle East the key variable for the Malaysian energy services group.

Forecast cuts raise execution risk

KLSE Screener reported that Public Investment Bank reduced its earnings forecasts by 59.00 percent for fiscal year 2026, 27.00 percent for fiscal year 2027 and 25.00 percent for fiscal year 2028. The bank retained its Neutral rating while lowering the target from MYR 1.03 to MYR 0.67.

The forecast revision was tied to delays affecting Qatar-related work. Public Investment Bank said Wasco's pipeline order book stood at MYR 409 million in the second quarter of fiscal year 2026, with execution dependent on the delivery of client-supplied materials and offshore installation schedules.

What does the target cut mean?

The main issue is timing rather than the stated value of the contracts. Business News Malaysia reported on October 2, 2026 that the analyst view assumed a slower recovery in Qatar and retained a Neutral call alongside the MYR 0.67 target.

Wasco's regional exposure makes the forecast change material. Public Investment Bank said the Middle East contributed MYR 608 million, or 23.00 percent, of fiscal year 2025 revenue, while the region accounted for MYR 245 million, or 22.00 percent, of non-current assets. Gross gearing improved to 0.25 times in the second quarter of fiscal year 2026 from 0.29 times in the first quarter.

Investing.com listed revenue of MYR 60.70 million and net income of MYR 3.88 million for the latest quarter released on September 2, 2026. Revenue had been MYR 54.37 million in the previous quarter, while net income had been MYR 4.08 million.

Market value and operating backdrop

Wasco's market capitalization was MYR 545.9 million as of October 23, 2026. Its 52-week range was MYR 0.68 to MYR 1.17 on that date, placing the latest market value near the lower end of the annual band.