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 
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