HKB‘s third-quarter revenue more than doubled, rising 93.4% YoY to RM49.5m, according to Malacca Securities Research. The research house noted that net profit reached RM3.0m over the same quarter, a sharp turnaround in earnings momentum.
HKB Earnings Recovery Draws Research Attention
The M+ Online research team picked HKB out as a stock that could draw interest following what it described as a sharp 3QFY26 recovery. The note arrived on 7 October 2026, two days before the Budget 2027 announcement on 9 October.
The report frames the quarter as a turnaround rather than a one-off spike. Its focus stays on revenue, profit and the order book rather than on a detailed breakdown of business segments.
HKB Financial Numbers Behind the Call
Revenue of RM49.5m in 3QFY26 represents a 93.4% YoY increase, the headline figure in the research house’s review. Net profit of RM3.0m works out to a net margin of roughly 6%, based on the reported revenue and profit.
The order book stands at about RM851m, which the research house pointed to as a key support for future earnings visibility. Investors tracking contract-driven companies typically watch this figure alongside quarterly revenue, since it signals how much work is already secured.
Valuation Basis and Rating
The report summary does not state a rating or target price for HKB, so readers should not assume a call that was not published in the excerpt. Malacca Securities’ valuation basis and any target price are set out in the full note available from M+ Online.
For context, the research house described the broader local market as selective ahead of Budget 2027, with infrastructure and earnings visibility in focus. That framing suggests the valuation debate around HKB will hinge on whether the order book converts into sustained profit.
Risks Flagged in the Market Backdrop
The research house highlighted rate-hike concerns from the United States. FOMC minutes showed most participants assessed another rate increase would likely be appropriate by year-end, and the 10-year Treasury yield climbed as high as 5.36% before easing to 5.28%.
Brent crude settled at USD100/bbl, adding to cost pressures that could weigh on sentiment. Locally, sentiment was dragged by banking heavyweights after JP Morgan downgraded selected bank stocks, with Financials lagging the most. Construction outperformed, led by Gamuda and IJM.
What This Means for Retail Investors
The report suggests infrastructure-linked names are drawing relative attention on Bursa Malaysia, a theme also visible in the research house’s note on JTGROUP. That company secured RM15.7m in TNB contracts and has an unbilled order book of RM1.1bn, according to Malacca Securities Research.
Retail investors should note that the research house’s commentary is an analyst view, not a guarantee of performance. The full Malacca Securities report, available through M+ Online, contains the rating, valuation and risk details that this summary does not reproduce.
Key Takeaways
- According to Malacca Securities Research, HKB‘s 3QFY26 revenue rose 93.4% YoY to RM49.5m.
- Net profit reached RM3.0m, and the order book expanded to about RM851m.
- The research house said the stock could attract interest, but the summary excerpt does not include a rating or target price.
- Rate-hike worries, with the 10-year yield near 5.3%, form the main macro backdrop for the market.
- The full report from M+ Online holds the valuation basis and risk details.
Frequently Asked Questions
What is Malacca Securities’ target price for HKB?
The summary of the Malacca Securities report dated 7 October 2026 does not disclose a target price for HKB. The research house’s valuation and any target price are set out in the full note available from M+ Online.
How much did HKB’s revenue grow in 3QFY26?
According to Malacca Securities Research, HKB’s revenue rose 93.4% YoY to RM49.5m in 3QFY26. Net profit over the same quarter reached RM3.0m.
How big is HKB’s order book?
The research house put HKB’s order book at about RM851m following the latest quarter. This figure is the main indicator of secured future work cited in the report.
Where can I read the full HKB research report?
The full Malacca Securities report is available from M+ Online at mplusonline.com under research report 1460. It contains the rating, valuation basis and risk analysis that are not included in the summary.
Source & Attribution
This article summarises a research report published by Malacca Securities Sdn Bhd (M+ Online) on 07 October 2026. All ratings, target prices and forecasts belong to Malacca Securities Research, not to the author of this blog.
Read the original report: M+ Online Research Report | View full PDF
Disclaimer: This article is for informational and educational purposes only and does not constitute financial advice or a recommendation to buy or sell any security. Ratings and target prices cited are those of Malacca Securities Research and are subject to change. Always do your own research before making investment decisions.
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