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MN HOLDINGS - Selling Pressure Exhausted?MN HOLDINGS - CURRENT PRICE : RM1.52
Company profile : MN Holdings Bhd is a competent solution provider specializing in infrastructure utilities construction, with a primary focus on the power industry in Malaysia. It offers engineering services and solutions, supported by the necessary machinery, labor, and expertise for successful project execution. The Group mainly serves customers in the power, gas, sewerage, and telecommunications sectors within Malaysia. Its operations are organized into main reportable segments, including underground utilities engineering services and solutions; substation engineering services and solutions, including trading and supplying; and investment holding and management services. The majority of revenue is generated from the substation engineering segment.
TECHNICAL VIEW :
MN Holdings is currently in a healthy medium-term uptrend and has pulled back to a high-probability support zone.
Why this setup looks attractive:
1️⃣ EMA 200 Reversal Zone
Price is trading near the EMA 200, which has acted as a strong dynamic support previously (green highlighted area). Past pullbacks to this level have led to rebounds.
2️⃣ Volume Expansion
Recent candles show higher trading volume (look at red arrow), suggesting institutional interest / strong participation near support — often seen before a price rebound.
3️⃣ RSI at Oversold Area (~30)
RSI is currently in the oversold zone. Historically, every time RSI reached this level, price rebounded higher (look at orange circles). This increases the probability of a technical bounce.
Trade Plan (Swing Setup):
🟢 ENTRY PRICE : RM1.50 - RM1.52
🎯 Target 1: EMA 50 around RM1.66
🎯 Target 2: Previous resistance near RM1.80
🛑 Invalidation / Support: RM1.40 (strong horizontal support)
Summary : Price is resting near strong support (EMA 200 + horizontal support), selling pressure looks exhausted (oversold RSI), and buyers are stepping in (high volume). This creates a favourable risk–reward setup for a technical rebound.
📌 Always manage risk and follow your trading plan. This is a technical view, not financial advice. Long 
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THPLANT is breaking the channelTH Plantations Berhad is an investment holding company under Lembaga Tabung Haji that cultivates oil palm in Malaysia and Indonesia, processes fresh fruit bunches, and markets crude palm oil, palm kernel, and FFB. It also operates a Forestry segment engaged in rubberwood harvesting.
The fundamental picture is genuinely improving after years of earnings pressure. Net income surged 270% quarter-on-quarter to RM27.08 million in the most recent quarter, versus RM7.32 million the quarter before, with EBITDA standing at RM300.64 million and an EBITDA margin of 32.60%.
Valuation is attractive. Simply Wall St estimates the stock is trading at 75.1% below their estimate of fair value TradingView, making it one of the most undervalued pure-play plantation stocks on Bursa. The forward P/E is approximately 4.42x — deeply cheap relative to regional and global peers. The company owns approximately 38 estates and six mills across Terengganu, Pahang, Johor, Negeri Sembilan, Sabah, Sarawak, and Indonesia Yahoo Finance — a large and diversified asset base.
The key risk is debt load tied to Tabung Haji's historical restructuring, and any future CPO price reversal would directly compress earnings.
THPLANT is currently priced at RM0.555, with a beta of 1.11 and weekly volatility of 1.80% — relatively low volatility compared to the broader market, suggesting institutional accumulation rather than speculative trading. Investing.com
Key technical levels:
Three near-term catalysts that could re-rate the stock higher:
Dividend play — ex-date April 8, 2026. TH Plantations announced on February 26, 2026 a final single-tier dividend of 3.00 sen per share for FY2025, with ex-date April 8, 2026, entitlement date April 9, and payment on April 30, 2026. This creates an immediate buy window — investors will accumulate before the ex-date to qualify.
Growing dividend trend. The dividend has been progressively increased from 1.5 sen in 2022, to 2 sen in 2024, and now 3 sen for FY2025 — translating to a forward yield of approximately 5.0–5.7% at current prices. Forum discussions highlight the possibility of a 4–5 sen dividend for FY2026 if CPO prices remain elevated.
FCPO surge tailwind. With FCPO at RM4,657–4,774 per tonne and analysts forecasting an average of RM4,200/tonne for 2026, THPLANT's upstream-focused business model means every RM100/tonne increase in CPO directly translates into meaningful earnings uplift given its 38 estates.
Current price:RM0.66
Entry zone: RM0.655–0.670 (current level, accumulate on dips)
Add position: RM0.68 on confirmed breakout with volume
Target 1: RM0.70 (immediate psychological resistance)
Target 2: RM0.75 (short-term swing target)
Target 3: RM0.80–0.85 (if FCPO sustains above RM4,500 + dividend momentum)
Stop loss: RM0.625 (below RM0.63 support zone)
Risk/Reward~1:2.5
Timeframe3–6 weeks (dividend ex-date April 8 + FCPO tailwind)
Long
Will ANNJOO change to Uptrend?Ann Joo Resources Berhad is Malaysia's leading steel producer specialising in long steel products for the construction and infrastructure sectors, operating through an integrated Blast Furnace–Electric Arc Furnace (BF-EAF) hybrid technology — the first and only such combination in Southeast Asia — giving it a structural cost advantage over pure EAF peers.
The fundamentals are currently a turnaround story rather than a stable earner. Net losses deepened to RM54 million in Q2 2025 and cumulative losses for the first half of FY2025 reached RM132.9 million, with revenue falling 13.55% year-on-year, primarily due to lower selling prices across upstream and downstream steel divisions.
However the recovery thesis hinges on two things. First, Malaysia's rebar prices staged a significant rebound from late July 2025 onwards, tracking Chinese steel price movements. Bursa Malaysia Second, ANNJOO secured a major RM297.9 million contract from Tenaga Nasional Berhad for the design and build of ECRL feeder station electrification works — marking its entry into the utility-infrastructure sector, with TA Securities maintaining a Buy call and a target price of RM1.64.
As of March 5, 2026, the stock was trading at RM0.44 TRADING ECONOMICS, suggesting the market is still pricing in uncertainty, which creates potential upside if the recovery materialises.
ANNJOO is currently trading at RM0.675, having fallen 3.60% week-on-week and 4.29% month-on-month, with a one-year decline of 29.30%. The stock's beta coefficient stands at 1.99 — meaning it is nearly twice as volatile as the broader market.
Key technical levels to watch:
Support levels: RM0.605 and RM0.645 . Resistance levels: RM0.725 and RM0.765 , with Mercury Securities noting that a breakout above the 50-day EMA triggered a bullish signal when volume surged.
The all-time low was RM0.40, recorded on March 19, 2020, which acts as the deepest structural support. The all-time high was RM4.335.
Analyst consensus target: RM0.76 per share based on current analyst estimates.
Three near-term newsflow drivers that could re-rate the stock:
Penang LRT — analysts highlight that ANNJOO is ideally positioned to supply steel for the Penang LRT project, given its main steel plant in Prai, Penang — just 6km from the project hub and 4 minutes from Penang Port.
Infrastructure supercycle — Malaysia's construction market is being driven by major government investments in highways, rail networks, ports, and airports, with Kuala Lumpur, Penang, and Johor Bahru attracting significant infrastructure spending in 2026.
Localisation policy — the government is actively working with the Construction Industry Development Board and Works Ministry to mandate greater use of local steel in government projects FinancialContent — a direct tailwind for ANNJOO as the dominant domestic long-steel producer.
Risk: The increase in power tariffs announced in late 2024 remains a burden on the iron and steel sector , as EAF-based steelmaking is electricity-intensive. This is the key headwind to watch.
Entry zone: RM0.67–0.69 (on breakout + volume)
Add position: RM0.72 if breakout confirms
Target 1: RM0.76 (analyst consensus)
Target 2: RM0.85–0.90 (technical resistance zone)
Stop loss: RM0.62 (below key support)
Risk/Reward ~ 1:2.5
Timeframe: 4–8 weeks swing trade Long 
Will IAB have new ATH?Fundamentals — extraordinary growth story, but extreme valuation. CIMB Research describes IAB as the sole non-revenue water technology provider in Sarawak, backed by over two decades of collaboration with state water agencies, and calls it "well positioned" to benefit from Malaysia's ongoing water sector transformation and digital infrastructure modernisation.The risk is the price — the company crossed RM1 billion in market cap in under three months from its ACE Market debut Yahoo Finance, on a revenue base of only ~RM26M per year.
Latest news — contract wins accelerating. CIMB initiated coverage with a Buy and TP of RM2.10, expecting the order book to surge 192% to RM88.8M, with active tender pipeline maintained at RM200–250M.Sarawak Water consolidating its three former agencies into one entity is expected to streamline governance and accelerate the Water Supply Master Plan, which targets 100% water coverage by 2030 from 71% in rural areas, backed by over RM20 billion in planned investment.
Three trading scenarios:
Scenario A — ride the existing uptrend with entry at the RM1.73–1.80 support zone, targeting RM1.91 then RM2.10 (CIMB TP)
Scenario B — best R:R, wait for a meaningful dip to RM1.37–1.56 before entering
Scenario C — long-term deep value accumulation at RM1.00–1.26 if a sharper correction materialises Gohub starting to uptrend positivelyFundamentals — small but profitable, priced for growth. GoHub specialises in transportation IT solutions for the bus and rail sectors, covering customised software, hardware integration, terminal management, and automated fare collection, with a market cap of RM234M.Q2 FY2025 saw PBT double to RM2.05M year-on-year, and net profit grew 65% to RM1.45M— the core business is healthy but tiny, and the stock is priced at 76× P/E, leaving no room for disappointment.
Latest news — the OPS tender is the make-or-break catalyst. Prasarana relaunched a limited tender for the Open Payment System after the first open tender was disputed, with the contract award targeted for Q2 2025 and implementation taking up to 12 months after that. GoHub is one of the known contenders, alongside TechStore partnered with Spain's Indra Sistemas — which has been Prasarana's technology partner for over a decade Simply Wall St, giving TechStore–Indra a structural edge. The key risk flagged by the market community is that GoHub hired a lot of engineers in anticipation of winning the OPS contract PitchBook — if they lose, bloated overheads will weigh on earnings.
Entry zone: RM 0.565 – 0.58 iSaham support / 52-wk low floor
Target 1 (T1): RM 0.65 +12–15% · sell 50% here
Target 2 (T2): RM 0.725 +25–28% · close all remaining
Stop Loss: RM 0.53 −8–9% · hard cut, no averaging down
cenario A — floor bounce at RM 0.565–0.58 right now, tight 8–9% stop, quick 1–3 week trade
Scenario B — the high-conviction swing trade, only triggered by a confirmed catalyst (OPS win or strong earnings + breakout above RM 0.65 on double volume)
Scenario C — deep value accumulation in tranches if OPS is lost and price overshoots to RM 0.40–0.50
D&O are trying to recover back from the bottom?Fundamentals — deeply impaired, but potentially "kitchen-sinked". D&O booked RM297.8 million in total inventory impairments across two consecutive quarters, swinging to a full-year FY2025 net loss of RM228.15 million from a RM39.5 million profit in FY2024, while annual revenue fell 8% to RM989.7 million. PitchBook The management framing is that this was a deliberate clean-up — the group says it enters FY2026 with improved cost visibility and enhanced alignment between standard costing and actual operating conditions TradingView — but market credibility is low after two quarters of surprises.
Latest news — mixed signals. The bad news is the analyst community has slashed targets: Public Bank has a Hold with TP RM0.54, and Phillip Capital rates it Hold with TP RM0.43.The mildly encouraging signals are insider purchases: CEO Tay Kheng Chiong bought 110,000 shares at RM0.45 on March 2, 2026, and Aberdeen Group increased its stake to 5.355% through a purchase on March 9.
Technical picture — severe downtrend. The stock has fallen 61.6% over the past year, with a 1-week drop of 16.7% and a 1-month decline of 28%, with analyst price targets ranging from a low of RM0.43 to a high of RM0.81.All technical signals are on sell across daily, weekly and monthly timeframes. The stock has broken below its 52-week low, meaning there is limited historical price support in the current zone.
Entry at 52-wk floor. Defined risk, tactical trade only. Use small size.
Entry zone: RM 0.62 – 0.63
Target 1 (T1): RM 0.68 +7.9% · take 50% profit
Target 2 (T2): RM 0.70 +11.1% · close remaining
Stop Loss: RM 0.59 – 0.60 −4.8% · hard cut
Entry trigger: Close above RM 0.70 on above-avg volume
Target 1 (T1): RM 0.865 – 0.90 +23–28% · take 50%
Target 2 (T2): RM 0.97 – 1.02 +38–45% · close all
Stop Loss: RM 0.65 −7% from entry · trail up after T1 Long 
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